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Tokai Tokyo Financial, Juroku Bank to establish securities JV

Tokai Tokyo Financial Holdings Inc. and Juroku Bank Ltd. have forged a comprehensive business alliance that includes establishing a joint venture securities company.

The joint venture will be 40% owned by Tokia Tokyo Financial and 60% owned by Juroku Bank, according to a March 23 release.

The corporate name and capital amount for the joint venture company has yet to be determined. It is expected to commence business in the fiscal year ending March 31, 2020.

In addition, the two companies will deliberate possible areas of business cooperation, such as securities brokerage, banking, asset management, insurance and fintech, among other areas.