TOKYO -- Japan's Tokai Tokyo Financial Holdings is forming an operational tie-up with Vietnam's Bao Viet Securities as part of its broader push to expand business in Asia.
The partners look to cooperate in the investment banking sector as well as jointly provide market research reports and financial products for individual investors. The pair also will exchange employees for training.
Tokai Tokyo Financial will use the tie-up to broker acquisitions of local firms by Japanese corporate clients. The company has particularly deep connections with manufacturers in Nagoya. Vietnam aims to attract foreign capital amid efforts to privatize state-owned enterprises.
Bao Viet Securities is a subsidiary of Bao Viet Holdings, Vietnam's largest state-affiliated financial group. Tokai Tokyo Financial could purchase a stake in Bao Viet Securities in the future. In April, the Japanese company took a $10 million ownership share in Chinese brokerage Guotai Junan Securities.