Purpose of converting to a holding company system

In October 2003, we transferred our securities and management operations to our wholly-owned subsidiary, Okasan Securities Co., Ltd., through a company split and converted to a holding company. This conversion has clarified the roles and responsibilities of each company and at the same time increased the degree of management freedom and the efficiency of capital within the entire group making it possible to expand into other areas and allowing us to develop the Okasan Securities Group further.

Okasan Securities Group organization chart