The largest securities company in Japan, Nomura Holdings (NYSE:NMR), announced on Monday that it has partnered with Hyakujushi Bank, a regional lender situated in the Kagawa prefecture.


Hyakujushi Bank will give Nomura access to several of its client accounts, including stock and bond investment trust accounts, in accordance with Nomura's announcement.


Nomura will send employees to Hyakujushi and grant the bank access to its financial platform in exchange.

The collaboration coincides with Japanese financial institutions' efforts to grow their wealth and asset management operations. The goal of these initiatives is to make money from the enormous savings of Japanese households, of which around half are now kept in cash and deposits.

At a press briefing, Kentaro Okuda, CEO of Nomura, mentioned the increasing interest in asset building.

In addition, Nomura and Hyakujushi intend to work together to provide clients with advice on issues like public listings, business succession, and inheritance.