Business / Corporate

Line and Nomura mull joint securities investment JV

Kyodo

Line Corp. and Nomura Holdings Inc. are considering providing joint securities services to clients who use Line.

The two companies said Wednesday that they are planning to establish a joint venture by the end of May to offer mobile and online brokerage services and investment consultation services based on the popular messaging app.

Line looks to own 51 percent of the venture, tentatively named Line Securities Corp., and Nomura 49 percent.

The business alliance is expected to help achieve synergies by combining Line’s young user base with Nomura’s expertise in financial services, they said.

The app provider launched Line Financial Corp. in January to offer loan and insurance services. The unit is also preparing to let clients exchange virtual currencies through the app.

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