Daiwa Securities Capital Markets Co. Ltd.

Daiwa Securities Capital Markets Co. Ltd. (formerly known as Daiwa Securities SMBC Co. Ltd.) was a Japanese investment bank with headquarters in Tokyo. The company provides M&A advisory, sales and trading services in a variety of financial products to corporate and institutional clients. Daiwa CM has major subsidiaries in Hong Kong, London and New York City.

The company was founded in 1999 as Daiwa Securities SB Capital Markets Co. Ltd., a joint venture between Daiwa Securities Group (Daiwa) and Sumitomo Bank (SB). It was renamed in 2001 to Daiwa Securities SMBC Co. Ltd., after Sumitomo Bank merged with Sakura Bank on 1 April 2001 to form Sumitomo Mitsui Banking Corporation (SMBC), a wholly owned subsidiary of Sumitomo Mitsui Financial Group (SMFG). However, in 2010, SMBC acquired Nikko Cordial (Japan's third largest brokerage at that time). Following this step, Daiwa dissolved the joint-venture with SMBC and re-acquired 100% of the shares in the company, before renaming it again as Daiwa Securities Capital Markets Co. Ltd. Finally, about two years later, the company merged with Daiwa Securities Co. Ltd.[1]

References
  1. Daiwa Securities Group Inc. / Corporate History
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