Yahoo! Japan ties up with two Japanese brokerages

Yahoo! Japan ties up with two Japanese brokerages

Yahoo! Japan is collaborating with two Japanese brokerages to provide stock trading facilities to their financial services website. They expect to go online with these new offerings as early as August this year. The two companies are Nikko Cordial Securities Inc. and E*Trade Securities Co. and the deal is expected to be finalized sometime this week. This was confirmed by the company’s spokesperson today.

Yahoo! will then act as an intermediary between investors and the brokerages. The users of the Yahoo! would be able to open accounts at Nikko Cordial and E*Trade through their website. This will further allow them to trade online through the Yahoo! website.

Earlier this year, Yahoo! joined hands with Aozora Bank Ltd. to enter the banking business and now this latest news will enhance the financial services offered by the online giant in the Japanese market. In a statement to the media, the company said: “Demand for financial services over the Internet is growing. We already offer other services via Yahoo Finance. We are taking another step forward.”

Many of the competitors of the company in the Japanese market already offer similar services and now they would face a tough competition from Yahoo! Japan.