TOKYO -- Financial technology outfit Folio is looking to become the first entrant in the online brokerage sector to deal in Japanese stocks in roughly a decade.
The Tokyo-based company will launch the business as soon as this spring. One Tap Buy, the Tokyo operator of a securities trading smartphone app, is also leaning toward adding Japanese equities to its lineup of foreign stocks within a similar time frame.
Folio is registering with the Kanto Local Finance Bureau, which serves the Tokyo region. Once the process is complete, the company will offer financial products that bundle stocks around such themes as Japan's casino legislation, or the policies of U.S. President Donald Trump. Clients will be able to manipulate asset weights and other aspects, with investments starting at around 100,000 yen ($887).
CEO Shinichiro Kai, a former securities trader at Barclays, founded Folio in 2015. To expand operations, the startup raised 1.8 billion yen this January from the likes of venture capital firm Jafco and Rakuten's fintech fund.