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Daiwa Securities Group establishes fintech unit

Japan-based Daiwa Securities Group Inc. has set up a new wholly owned subsidiary called Fintertech Co. Ltd.

The company's registered capital, including the capital reserve, is ¥800 million, according to a March 5 release.

Fintertech aims to develop and offer financial services and solutions using the know-how of Daiwa Securities.

As of March 5, US$1 was equivalent to ¥105.89.