SMBC Nikko to receive $1.7bn capital injection from parent SMFG

Japanese brokerage plans to grow corporate services amid cutthroat competition

20230904N SMBC Nikko

SMBC Nikko Securities looks to differentiate itself from rivals through margin lending and derivatives services. (Photo by Karina Nooka)

TAIZO WADA and HARUKI KITAGAWA, Nikkei staff writers

TOKYO -- SMBC Nikko Securities plans to raise 250 billion yen ($1.71 billion) as early as this week from parent Sumitomo Mitsui Financial Group as the brokerage seeks to expand services for corporate clients, Nikkei learned Monday.

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