TOKYO (Reuters) - Japan’s Daiwa Securities (8601.T) and credit card company Credit Saison (8253.T) on Thursday announced a capital alliance in which they will develop new services, including a smartphone payment system.
Japan’s second-biggest brokerage said it will acquire 5% of Credit Saison’s shares, while Credit Saison will buy up to 2 billion yen ($19 million), around 0.3%, in Daiwa shares.
Reporting by Takashi Umekawa; Editing by Subhranshu Sahu
