Tokai Tokyo Financial Holdings, Inc. announced that they have reached an agreement about the establishment of a new joint venture securities company with The Juroku Bank, Ltd. (‘Juroku Bank'). The company has considered establishing a JV securities company as per the basic agreement signed by the company and Juroku Bank effective March 23, 2018, aiming to form a comprehensive business alliance. The Company and Juroku Bank have made an in-depth study about the viability of running a new JV securities company that takes advantage of the strength each party possesses.

The new JV securities company signifies the first step taken under the aforementioned idea of comprehensive business alliance. Tokai Tokyo Securities Co., Ltd. (hereinafter ‘TTSC'), a wholly owned subsidiary of the company, concluded an absorption type-split agreement with Juroku Tokai Tokyo Securities Preparation Co., Ltd. (hereinafter ‘JTTSPC'), a transient entity set up in April 2018 specifically for this JV securities company creation purpose. TTSC and JTTSPC agreed that JTTSPC will receive the transfer of the operation currently conducted by TTSC at its four outlets located in Gifu prefecture in a form of company split.

The transfer, however, excludes the operation related to some of the customers, products and services (hereinafter, this specified part of TTSC's operation that will be transferred will be referred to as ‘the split business operation'). The JV securities company will make most of the operating know-hows and service competence developed over the years by Tokai Tokyo Financial Group, accessing closely knit and fertile customer network Juroku Bank possesses. The JV securities company will offer diverse and high-quality products and services to satisfy needs of customers as a securities company firmly rooted in the community it operates, hoping to help customers improve their well-being and assist the region where they operate with growing its economy.