TOKYO -- Japanese messaging app operator Line will withdraw from the online brokerage business that it ran as a joint venture with securities giant Nomura Holdings, the companies announced on Monday, as they battle a low profitability outlook stemming from intense competition.
The agreement, first reported by Nikkei, will see Line Securities transfer its mainline stock trading and other services to Nomura. Foreign exchange margin trading services will be the sole business that remains at the joint venture. The restructuring is set to be completed in 2024.
.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
_2048x1152.jpg?width=178&fit=cover&gravity=faces&dpr=2&quality=medium&source=nar-cms&format=auto&height=100)
