LINE, Nomura to Restructure JV's Financial-Services Business
By Ronnie Harui
LINE Financial and Nomura Holdings have agreed to restructure their joint venture's financial-services business, the two companies said in a joint press release on Monday.
Given changes in the business environment and the profit outlook for LINE Securities' services, LINE Financial and Nomura agreed to the business restructure after considering the optimal allocation of resources, the companies said.
As a result of the restructure, LINE Securities will focus on foreign-exchange margin trading services, while management of customers' brokerage accounts will be transferred to Nomura Securities, the companies said.
The restructuring is expected to complete in 2024, they added.
Write to Ronnie Harui at ronnie.harui@wsj.com
(END) Dow Jones Newswires
June 12, 2023 04:07 ET (08:07 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.-
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