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Finance

Daiwa takes stake in company rehabber as stock fees dwindle

Japan's brokerages branch out to find new revenue source

Daiwa Securities will beef up its business of investing in other companies.

TOKYO -- Daiwa Securities Group is investing 14 billion yen ($128 million) into Osaka-based marketing company Katana, partnering to rehabilitate restaurants and other businesses across Japan that are struggling to find a new crop of leaders.

The move reflects a trend among Japanese brokerages, which are taking stakes in other companies to cultivate alternative income sources as their bread-and-butter stock transaction fees continue to shrink.

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