TOKYO -- Daiwa Securities Group and Japanese credit card company Credit Saison will enter a capital and business tie-up, partnering in such areas as mobile payment services as they work to solidify their customer bases.
Under the plan announced Thursday, Japan's second-largest brokerage group will acquire as much as 5% of Credit Saison for an estimated 9 billion yen ($84.7 million), which would make Daiwa its largest shareholder outside of institutional investors.
