American Express Financial Advisors Inc., a financial planning company within the American Express group, will launch business in Japan as a securities firm, company officials announced Friday.
David Hubers, president and CEO of the Minneapolis-based AEFA, told a news conference in Tokyo that Japan will be the first site of the firm's overseas operations.
The Japanese branch, with 130 million yen in capital, will be based in Tokyo's Minato Ward. The company will initially market mutual funds to the more than 1 million American Express card members in Japan.
It hopes to eventually expand its client base to nonmembers and increase its distribution channels through tieups, joint ventures and the acquisition of other firms, according to Hubers.