Daiwa Securities Group plans to invest $1 billion to expand in the region, deputy president Takashi Hibino told a media briefing in Hong Kong last Thursday.
Daiwa, Japan's second largest brokerage, is aiming to become one of the top five brokers in Asia ex-Japan by 2012 and seeks a top-10 league table ranking for Asia ex-Japan investment banks by March 2013.
We know that this is a bold target, but we are very committed to enter the Asian market and are taking every step seriously, said Hibino.
The group has decided to make Hong Kong its Asia headquarters for ex-Japan operations. It will focus on conducting primary and secondary offerings of H-shares Hong Kong-listed shares...