National Australia Bank Limited (NAB) today announced that its wholly owned subsidiary, NAB Japan Securities Limited, has received approval for a securities registration from Japan's Financial Services Agency (FSA) and Kanto Local Finance Bureau.
The new registration builds on NAB's existing presence in Japan and allows for it to trade in products such as bonds, derivatives, repurchase agreements and other securities products with Japanese investors.
NAB Japan Securities Limited will begin operation as a securities business once membership to the Japan Securities Dealers Association is granted. Janari Tonoike, has been appointed to the role of Representative Director.
NAB Executive General Manager Markets Drew Bradford said receiving the registration was an important step forward for NAB's presence in what is a critically important market for NAB in the region.
"Japan is Australia's second-largest trading partner and Australia's largest Asian investor, representing roughly 45% of direct Asian investment," Mr Bradford said.
"This registration allows us to provide a much greater variety of products and services to our Japanese customers and help connect Japanese investors with Australian and New Zealand borrowers.
"This year marks the 50th anniversary of NAB's operations in Japan and we're proud to launch a new business in this landmark year. The securities registration underscores our commitment to Japan and its investors and further demonstrates our ambition to be the leading corporate and institutional bank in Australasia."
In addition to the securities registration, NAB Tokyo will continue to operate under its existing banking license with a focus on foreign exchange and will draw on NAB's strengths in Corporate and Institutional Banking to support our Australian and New Zealand borrowers.
