is a

financial services Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...

firm in

Japan Japan ( ja, 日本, or , and formally , ''Nihonkoku'') is an island country in East Asia. It is situated in the northwest Pacific Ocean, and is bordered on the west by the Sea of Japan, while extending from the Sea of Okhotsk in the north ...

. It is a wholly owned

subsidiary A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a s ...

of Citigroup Japan Holdings Corp., the main Japanese holding company of American financial firm

Citigroup Citigroup Inc. or Citi (Style (visual arts), stylized as citi) is an American multinational investment banking, investment bank and financial services corporation headquartered in New York City. The company was formed by the merger of banking ...

. Nikko Cordial and

first established a joint venture in Japan in 1999 as Salomon Smith Barney Japan Ltd., a company registered and

domicile Domicile may refer to: * Home, a place where someone lives * Domicile (astrology) In astrology, a planet's domicile (or less commonly house, not to be confused with the astrological house system) is the zodiac sign over which it has rulership ...

d in the

Cayman Islands The Cayman Islands () is a self-governing British Overseas Territory—the largest by population in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac and Little Cayman, which are located to the ...

which operated through a "branch office" in Japan under the trade name . The company was re-incorporated in Japan in December 2003 and renamed Nikko Citigroup as part of an overall unification of the Citigroup brand. Nikko Citigroup is a member of the

Tokyo Stock Exchange The , abbreviated as Tosho () or TSE/TYO, is a stock exchange located in Tokyo, Japan. It is the third largest stock exchange in the world by aggregate market capitalization of its listed companies, and the largest in Asia. It had 2,292 listed co ...

Osaka Stock Exchange , renamed from , is the largest derivatives exchange in Japan, in terms of amount of business handled. , the Osaka Securities Exchange had 477 listed companies with a combined market capitalization of $212 billion. The Nikkei 225 Futures, intro ...

Nagoya Stock Exchange Nagoya Stock Exchange (名古屋証券取引所 ''Nagoya Shōken Torihikijo'', NSE) is a stock trading market in Nagoya, Japan. It is Japan's second largest exchange, behind the Tokyo Stock Exchange. History The Nagoya Stock Exchange (NSE) is t ...

and

JASDAQ , formerly the is one of the sections of the Tokyo Stock Exchange. It was formerly an independent stock exchange. JASDAQ is not related to NASDAQ in the United States, but has operated an electronic trading system similar to NASDAQ. History In 1 ...

. Its headquarters are located in the Shin-Marunouchi Building in Otemachi,

Chiyoda, Tokyo is a special ward located in central Tokyo, Japan. It is known as Chiyoda City in English.Profile< ...

. It also has a branch office in the Sonezaki district of Kita-ku,

Osaka is a designated city in the Kansai region of Honshu in Japan. It is the capital of and most populous city in Osaka Prefecture, and the third most populous city in Japan, following Special wards of Tokyo and Yokohama. With a population of 2. ...

. In October 2007, Citigroup purchased Nikko Cordial Corporation. At the ''2008 ALB Japan Law Awards'', Nikko Citigroup was crowned: * In-House of the Year - International Investment Bank In-House Team of the Year * Deal of the Year - M&A Deal of the Year * Deal of the Year - Japan Deal of the Year On October 1, 2009, Citigroup sold parts of Nikko Cordeal to

Sumitomo Mitsui Financial Group is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and ser ...

and renamed the remaining company to Citigroup Global Markets Japan Inc. The domestic stock and bond underwriting business among others were spun off into

Nikko Cordial Securities Nikko Cordial Corporation was the holding company for Nikko Cordial Securities, Japan's third largest brokerage until 2008, when Nikko Cordial Corporation became a wholly owned subsidiary of Citigroup; upon completion of share exchange, it merge ...

which was acquired by

Sumitomo Mitsui Banking Corporation is a Japanese multinational banking and financial services institution headquartered in Yurakucho, Chiyoda, Tokyo, Japan. The group operates in retail, corporate, and investment banking segment worldwide. It provides financial products and ser ...

, a wholly owned subsidiary of

, while the investment banking business remained with Citigroup Global Markets Japan.

References

External links

The Citigroup Global Markets Japan Story Company Milestones
Citigroup Financial services companies based in Tokyo {{finance-company-stub