Ryozo Minagawa

SMBC Nikko Securities, Inc. is the securities brokerage subsidiary of Sumitomo Mitsui Financial Group, Inc. (TYO: 8316) in Japan. Headquartered in Tokyo, the firm was founded in 2009 and provides stockbroking services to Japanese individuals and corporate clients.

Nomura Securities Co., Ltd. (NSC) is a wholly-owned brokerage subsidiary of Nomura Holdings, Inc. (TSE: 8604; NYSE: NMR). Headquartered in Tokyo, the firm was founded in 1925. NSC places a strong emphasis on research, both fundamental and quantitative. In addition to stock and bond underwriting, their activities include IPO and M&A advisory, wealth management, separately managed accounts, fund wrap services, prime brokerage and structured equity finance. Their clients include institutions, hedge funds, private banks and private equity funds as well as corporate clients and retail investors.