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SEC Extends Naked Short Selling Order

Tue, 05 Aug 2008 17:57:00 GMT

"You know what the news is-- in a minute, you're going to hear the rest of the story"- Paul Harvey Don't you love "election year magic?". Oil and commodity prices are falling, and today the SEC has extended its emergency order prohibiting naked short sel[More...]

Stock Market Summary for July 15th 2008 - SEC Issues Emergency Order

Wed, 16 Jul 2008 12:52:00 GMT

The first thing I want to address tonight is the statement made today by Christopher Cox, Chairman...[More...]

Daiwa to launch investment business in Vietnam

Wed, 25 Nov 2009 15:49:00 GMT

Nov. 25--TOKYO -- Daiwa Securities Group Inc. said Wednesday it plans to start an investment business targeting high-growth companies in Vietnam jointly with a major Vietnamese securities firm to expand its business in Asia.
Daiwa's investment unit Daiwa SMBC Capital Co. and SSI Asset Management Co., an asset management subsidiary of Saigon Securities Inc., have agreed to set up an unlisted-share investment fund targeting venture companies in Vietnam, Daiwa said.
DSCAP-SSIAM Vietnam Growth Investment Fund LLC will be launched with 800 million yen next month to invest in fast-growing Vietnamese firms and those that are potential partners with Japanese competitive sectors, Daiwa said.

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Daiwa to raise capital by 100 billion yen to boost Asian business

Thu, 12 Nov 2009 13:46:00 GMT

Nov. 12--TOKYO -- Daiwa Securities Group Inc. said Thursday it will increase its capital by about 100 billion yen to boost its Asian business operations by next April, doubling its overseas operating capital which stood at 90 billion yen as of September.
Daiwa Securities said it will also increase the number of its personnel by about 300 in the Asian stock and derivatives business and by around 100 for underwriting and mergers and acquisitions operations.
Currently, there are about 650 staff members for these operations.

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Sumitomo Mitsui, Daiwa Announce End of Brokerage Venture

Thu, 10 Sep 2009 14:50:00 GMT

Sep. 10--TOKYO -- Sumitomo Mitsui Financial Group Inc. and Daiwa Securities Group Inc. on Thursday officially announced the termination of their capital tie-up for Daiwa Securities SMBC Co., ending their 10-year brokerage joint venture for corporate customers.
The move is widely seen as having widened the differences in business strategies of SMFG and Daiwa Securities Group.
SMFG, a major Japanese banking group, currently holds a stake of 40 percent in the joint venture while Daiwa Securities Group holds the remainder.

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Sumitomo Mitsui Eyes Ending Capital Tie-Up With Daiwa Securities

Fri, 04 Sep 2009 13:48:00 GMT

Sep. 4--TOKYO -- Sumitomo Mitsui Financial Group Inc. said Friday it is in talks with Daiwa Securities Group Inc. over reviewing their capital tie-up on Daiwa Securities SMBC Co.
The financial group made the announcement in responding to media reports that it is considering dissolving the venture with Japan's No.
SMFG is considering selling its 40 percent stake in Daiwa Securities SMBC, a securities house serving corporate investors, for around 200 billion yen, to the Daiwa side, sources close to the matter said.

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Daiwa's 1st Qtr Net Profit Triples on Underwriting, Trading Gains

Fri, 31 Jul 2009 18:47:00 GMT

Jul. 31--TOKYO -- Daiwa Securities Group Inc. said Friday its group net profit more than tripled from a year earlier during the April to June quarter as market recovery led to an increase in equity underwriting and bond and currency trading.
Japan's second-largest brokerage booked a net profit of 17.87 billion yen compared with a year-earlier profit of 5.89 billion yen, snapping three consecutive quarters of losses triggered by the global financial crisis.
Daiwa attributed the strong performance to an increase in underwriting commissions as Japanese companies carried out public offerings of shares amid a recovery in stock prices during the three-month period.

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Daiwa Securities to Raise 240 Bil. Yen, 1st Public Offering in 20 Yrs

Fri, 26 Jun 2009 14:46:00 GMT

Jun. 26--TOKYO -- Daiwa Securities Group Inc. said Friday it will raise about 240 billion yen in its first public offering in two decades to bolster its financial standing as it aims to expand its operations in high-growth Asian and emerging countries.
Despite sinking into the red for the business year that ended in March, Japan's second-largest brokerage will carry out its biggest fundraising measure on the back of recent improvements in market conditions.
The move comes after a string of public offerings by other financial institutions hit hard by the global financial turmoil, including Nomura Holdings Inc. and Sumitomo Mitsui Financial Group Inc.

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Bank, Securities Tie-Ups Complex

Mon, 04 May 2009 19:59:00 GMT

May 4--TOKYO -- Sumitomo Mitsui Financial Group reached a basic agreement last week to acquire two financial businesses from U.S. banking giant Citigroup Inc. -- Nikko Cordial Securities Inc. and Nikko Citigroup Ltd., Citi's investment banking unit.
SMFG also has been eyeing further strengthening its already potent alliance with Daiwa Securities Group.
The deal between SMFG and Citigroup will mark the birth of Japan's first comprehensive financial group as one of the nation's banking giants takes control of one of the country's largest brokerage houses.

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Daiwa Sinks into Red in FY 2008 With 85 Bil. Yen Loss

Tue, 28 Apr 2009 14:52:00 GMT

Apr. 28--TOKYO -- Daiwa Securities Group Inc. said Tuesday its group net balance fell into the red in fiscal 2008 with a loss of 85.04 billion yen, a turnaround from a profit of 46.41 billion yen the year before, due to a plunge in operating revenues such as securities brokerage commissions.
In an earnings statement for the 12-month period to March 31, the time-honored brokerage said its pretax balance also sank into the red with a loss of 141.15 billion yen, against a profit of 90.14 billion yen the year before, as revenues dropped 49.9 percent to 413.94 billion yen.
"Securities brokerage commission revenues fell 33.6 percent to 55.73 billion yen as stock transactions on the Tokyo Stock Exchange dropped 31.1 percent to 2.04 trillion yen on a daily average basis amid faltering share prices," Daiwa said in the statement.

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SMFG to Reach Accord Soon With Citigroup on Acquiring Nikko Cordial

Tue, 28 Apr 2009 14:52:00 GMT

Apr. 28--TOKYO -- Sumitomo Mitsui Financial Group Inc. will shortly conclude a basic agreement with Citigroup Inc. to acquire Nikko Cordial Securities Inc. and the bulk of Nikko Citigroup Ltd. for about 500 billion yen, sources familiar with the matter said Tuesday.
The major Japanese banking group and the U.S. financial giant are expected to announce the deal by the end of this week, they said.
SMFG is aiming to strengthen its brokerage operations through the deal.

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10 Chinese Firms to Invest 47 Bil. Yen in Japan's Pacific Holdings

Fri, 26 Dec 2008 19:47:00 GMT

Dec. 26--TOKYO -- Pacific Holdings Inc. said Friday that 10 Chinese property firms including Greentown China Holdings Ltd. will invest about 47 billion yen ($520 billion) to effectively obtain a controlling stake in the financially-strapped Japanese operator of real estate investment funds.
It would represent a rare case of Chinese capital entering the struggling Japanese real estate market as U.S. and European investment funds dwindle amid the global financial meltdown.
Pacific Holdings said it will raise the 47 billion yen through a third-party allotment of preferred shares to a Japanese-based firm called Zhongbai Japan Inc. that will be funded by a group of Chinese real estate firms.

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