Daiwa Securities takes 5% in Credit Saison in capital tie-up (updated)
05/09/2019 09:32
(Updates with company announcement)
TOKYO, Sept 5 (Reuters) - Japan's Daiwa Securities 8601.T
and credit card company Credit Saison 8253.T on Thursday
announced a capital alliance in which they will develop new
services, including a smartphone payment system.
Japan's second-biggest brokerage said it will acquire 5% of
Credit Saison's shares, while Credit Saison will buy up to 2
billion yen ($19 million), around 0.3%, in Daiwa shares.
($1 = 105.3900 yen)
(Reporting by Takashi Umekawa; Editing by Subhranshu Sahu)
((Ritsuko.Ando@reuters.com; +81 3 6441 1743;))