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Nomura unit, San-in Godo Bank sign MOU to offer financial intermediary services

Nomura Holdings Inc. unit Nomura Securities Co. Ltd. is exploring a business alliance with San-in Godo Bank Ltd. and its subsidiary, Gogin Securities Co. Ltd., to provide financial intermediary services to clients, according to a Form 6-K filed Aug. 26.

Nomura Securities signed a memorandum of understanding with the bank and its securities subsidiary with an aim to create a new brokerage business model to provide solutions tailored to the succession and asset management needs of regional clients.

The companies expect to reach a final agreement by the end of 2019, and plan to set up a new operational structure under the alliance in the first half of the fiscal year ending March 31, 2021.