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Japan's Nikko Cordial to open office in India, expand ops in China
Nikko Cordial Corp is strengthening overseas operations, including plans to establish an office in India by summer and expand its Chinese presence, as part of efforts to focus on the asset management and investment needs of growing markets, the Nihon Keizai Shimbun reported.
Nikko Cordial Securities Inc will open an office in New Delhi, the first by a major Japanese securities company in India, and Nikko Cordial Asset Management will oversee the setting up of funds investing in Indian stocks, the business daily said.
In China where Nikko Cordial already has offices in Beijing and Hong Kong, Japan's third-largest securities trading house will open an office in Shanghai, the Nikkei said.
Also, Nikko Principal Investments Japan Ltd, a subsidiary engaging in investment operations in the UK and Japan using in-house funds, will set up a unit in Australia. Nikko Principal has chosen Australia partly because that country's legal system is similar to that of the UK, where it is headquartered, the newspaper said.
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