NTT Docomo forms capital tie-up with Monex to strengthen financial business

NS fans turn up for Crosby's homecoming | SaltWireTOKYO - Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group on Wednesday to build a new financial services business centred on managing its customers' assets.

Monex's brokerage unit Monex Inc will form an intermediate holding company in which Docomo will take a 49% stake and make its consolidated subsidiary, Docomo said. Docomo will buy shares of the intermediate holding company from Monex Group for 46.56 billion yen and subscribe to a third-party allotment of shares worth 2 billion yen, Monex said.

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