Tokyo-Based Daiwa: Daiwa and Fee Levels

tokyo-based daiwa: The firms have traditionally focused on a face-to-face approach, which is costly to maintain at a time when retail business profitability is weakening. ; The fully owned unit, named Connect, will target young generations in addition to people who are starting to build wealth, Tokyo-based Daiwa said in a statement Wednesday, according to The Japan Times. It plans to allow clients to trade stocks in small lots and at the lowest fee in the industry, according to the release. Daiwa and larger rival Nomura Holdings Inc. face pressure to appeal to new investors as older clients pull money to spend on their retirement. We want to offer competitive services at competitive fee levels, Chief Executive Officer Seiji Nakata said in an interview. Until now, Daiwa had been hesitant to create a separate, low-fee online brokerage within the group because it was concerned that it would cannibalize its existing digital business, Nakata said. The group's main securities arm has digital services of its own, but its share in Japan's online retail market has been small. (news.financializer.com). As reported in the news.