Nomura Holdings Inc. and Japanese messaging-app operator Line Corp. have invested an additional 3 billion yen ($21 million) into online brokerage Line Securities Corp. as they overhaul the loss-making joint venture.
Nomura, which holds a 49% stake in the smartphone-based broker, contributed 1.47 billion yen to the investment made June 30 to secure funds for the startup’s operations, a spokesperson said. The partners last year pumped a further 9 billion yen into the venture.
Line Securities is undergoing a restructuring announced last month involving focusing its business on foreign-exchange trading services while transferring client brokerage accounts to Nomura. The move marked a setback for Nomura, which has seen earlier efforts to expand in the online brokerage business falter.
