Brokerage Network: Tokyo-Based Mizuho

brokerage network: To achieve the goal, the bank Mizuho Securities Co. unit will make the most of its expanded research capability to step up marketing to non-institutional investors, as well as boost execution services, Osade said in an interview in Tokyo, according to The Japan Times. The ambitions reflect Chief Executive Officer Yasuhiro Sato efforts to diversify from Mizuho traditional strengths in loans and bonds to generate more fee income as negative interest rates squeeze lending profitability. Tokyo-based Mizuho wants to overtake Nomura as the nation biggest equity firm by client assets and revenue, according to Yohei Osade, global head of Asian equities. Nomura, Japan biggest securities firm, has relied on profit from its retail brokerage network for years, dominating a market that global banks including Merrill Lynch and Morgan Stanley have failed to penetrate as risk-averse households hoard cash. We're far behind Nomura in terms of client assets and revenue from equities, but we have the potential to catch up, Osade said, without giving a time frame. Mizuho had ¥11.8 trillion of retail customer assets in equities as of June, compared with Nomura ¥55.8 trillion. (news.financializer.com). As reported in the news.