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May 30, 2013
Okasan Securities Co., Ltd.
Okasan Securities Co., Ltd. (Chuo-ku, Tokyo; President: Kenichi Tanaka) today signed a memorandum of understanding with RCBC Securities Inc., which is a subsidiary of the major Philippine commercial bank Rizal Commercial Banking Corporation (RCBC).
1.Reasons for operational tie-up
Improved political stability in the Republic of the Philippines has driven growth in the middle class, and with domestic consumption strong, the stock price index is at all-time highs. Markets have also reacted positively to the upgrade of Philippine government debt to investment grade by major rating agencies, and a continuing inflow of funds from overseas institutional investors is expected.
In this environment, the Company aims to expand its Asian equities business, mainly targeting institutional investors, by obtaining agency functions for equities listed on the Philippine Stock Exchange, along with investment information.
This is the sixth tie-up with leading securities companies in Asia, after similar alliances with BIDV Securities (Vietnam) in November 2006, China Galaxy Securities in July 2010, OSK (now RHB, Malaysia) in March 2011, Daishin Securities (Korea) in June 2012, and MasterLink Securities (Taiwan) in November 2012.
2.About RCBC Securities
| (1) Company Name | RCBC Securities, Inc. |
|---|---|
| (2) Established | August 13, 1973 |
| (3) Head office | 7/F, Yuchengco Tower 1, RCBC Plaza, 6819 Ayala Avenue, Makati City 0727, Philippines |
| (4) Representative | President Mr. Michael A. Singson |
| (5) Capital | Approx. PHP389 million (approx. ¥970 million) |
| (6) Shareholders | RCBC Capital Corporation (100%)
|
- Translated at PHP1 = ¥2.50
- Data as of end-December 2012
3.Outline of operational tie-up
- Exchange of information regarding macro-economy, securities markets and the like
- Joint development of international business
- Investment banking operations such as M&A and IPOs
- Joint research into and initiation of investment products
- Joint hosting of investment seminars
4.About Okasan Securities' Asian strategy
Since first beginning to handle Chinese equities in 2002, the Company has built up its Asian business by expanding the range of markets in which it handles equities and broadening its line-up of Asian investment trusts. During this period, the Company has strengthened its agency business in major Asian markets via tie-ups with leading local securities companies, including the latest alliance, and established the infrastructure to deliver high quality investment research to Japanese investors in a timely fashion. The Company plans to continue to expand its Asian business.
The official signing of the memorandum of understanding took place in Manilla today.
About RCBC
Rizal Commercial Banking Corporation is the Philippines fourth largest commercial bank. Below is an outline of the company.
Profile of Rizal Commercial Banking Corporation
| (1) Company Name | Rizal Commercial Banking Corporation |
|---|---|
| (2) Established | August 4, 1960 |
| (3) Head office | Yuchengco Tower 1, RCBC Plaza, 6819 Ayala Avenue, Makati City 0727, Philippines |
| (4) Representative | Chairperson Ms. Helen Y. Dee |
| (5) Capital | PHP20.8 billion (approx. ¥52 billion) |
| (6) No. of branches | 420 |
| (7) No. of employees | Approx. 7,000 |
| (8) Net profit | PHP6,210 million (approx. ¥15.5 billion) (unaudited) |
- Translated at PHP1 = ¥2.50
- Data as of end-December 2012