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Financials

Daiwa Securities, Credit Saison in capital tie-up - Nikkei

TOKYO, Sept 5 (Reuters) - Japan’s Daiwa Securities and credit card company Credit Saison have agreed to a capital alliance under which they will also jointly develop a smartphone payment system, the Nikkei reported on Thursday.

Daiwa Securities will acquire 5% of Credit Saison’s shares, while Credit Saison will buy up to 0.3% in Daiwa, the report said, without citing sources.

Daiwa Securities declined to comment, while Credit Saison officials were not immediately available.

Reporting by Takashi Umekawa; Editing by Subhranshu Sahu

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