Nomura Asset Management, part of Japanese investment bank Nomura, has agreed to acquire a majority stake in local robo adviser 8 Securities for around JPY1.6bn ($15m).
8 Securities offers discretionary robo-advisory services through mobile apps using exchange-traded funds.
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At the same time, Nomura also agreed to buy a minority stake in 8 Limited, the Hong Kong-based parent company of 8 Securities, for JPY1.1bn.
NAM will work with 8 Securities to develop an app for its users by the end of this year. The Japanese investment bank will also build strategic collaboration with the robo adviser in fintech areas in Asia.
“Leveraging 8 Group’s excellent mobile app development skills and NAM’s investment capabilities and product offerings, NAM intends to provide investment services not only to investors in the asset accumulation phase, but also to a wide range of clients including experienced investors. In so doing, NAM aims to contribute to ongoing efforts in Japan to encourage a shift from savings to asset building,” Nomura said in a statement.
Nomura expects the transactions to have a minimal effect on its consolidated performance.
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