LINE Securities to restructure, to focus on Forex margin trading services
LINE Financial Corporation and Nomura Holdings, Inc. today announced that they have reached an agreement to restructure the financial services business of their joint venture, LINE Securities Corporation.
As a result of the business restructuring, LINE Securities will focus on foreign exchange margin trading services while management of clients’ brokerage accounts will be transferred to Nomura Securities Co. Ltd.
Client assets have been segregated and protected in trust accounts in accordance with laws and regulations and will not be affected in any way.
The restructuring is slated for completion in 2024. Any other matters requiring disclosure will be promptly announced once finalized.
In light of 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 two companies determined this was the best course of action to ensure LINE Securities’ continued growth and for their clients and all other stakeholders.
Moreover, LINE Group is seeking to further boost its earnings power and product creation as it merges with Yahoo Japan Corporation and Z Holdings Corporation among others, and makes other internal restructures. As part of its ongoing efforts to bolster its digital services through internal app development and enhanced online offerings, Nomura is looking to further invest operating capital into its own digital strategy to generate growth.
LINE Securities’ securities business will be transferred to Nomura Securities through a demerger (absorption-type company split). Once completed, Nomura Securities will provide the securities services while LINE Securities will continue to offer LINE FX.
The restructuring will mainly result in the following changes to LINE Securities’ services:
The parties will hold discussions in preparation for the 2024 completion of the business restructure and beginning of a new LINE Securities. The parties will promptly disclose any relevant matters related to the business restructure.
