February 13, 2019 / 10:00 AM / 5 months ago

Japan's commodity broker Okato to hold merge talks with Nissan Securities

TOKYO, Feb 13 (Reuters) -

* Japanese commodity broker Okato Holdings Inc said on Wednesday it and Japanese financial and commodity broker Nissan Securities Co Ltd have agreed to hold merger talks

* The two companies, which entered into an equity alliance last year, decided to hold merger talks as they saw benefits in profit growth and productivity through an outright merger, Okato said in a statement

* Okato separately said it expected to book a net loss of 35 million yen ($316,226) for the April to December period, against a loss of 63 million yen a year earlier, due to falling commissions from its commodities brokerage and lower gains from its securities business

$1 = 110.6800 yen Reporting by Yuka Obayashi

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