Mikihiro Matsuoka

SBI Securities Co., Ltd. is the broker/dealer subsidiary of SBI Financial Services Co. Ltd., itself a subsidiary of SBI Holdings, Inc. (TYO: 8473) in Japan. The firm was founded in 1944 as SBI eTrade Securities Co., Ltd. and changed their name to SBI Securities Co., Ltd. in 2008. Headquartered in Tokyo, SBI Securities provides securities trading, underwriting and private placement services, which are offered through the Internet and call centers. Besides domestic stocks, the product lineup extends to investment trusts, foreign stocks, futures and options, FX (foreign exchange margin trading), domestic and foreign bonds, etc. to meet the various needs of investors, supporting efficient fund management of individual investors.

Deutsche Securities, Inc. (DSI) is the Japanese brokerage subsidiary of Deutsche Bank Holdings (Luxembourg) SARL, itself a wholly-owned subsidiary of Deutsche Bank AG (NYSE: DB) in Germany. The firm was established in 1986 as Deutsche Bank Capital Markets (Asia) Ltd. and became Deutsche Securities Inc. in 2006. Located in Tokyo, DSI is the investment banking platform for the Deutsche Bank group in Japan. The firm provides services including research, sales and trading of bonds and equities, capital raising and M&A advisory for corporate and institutional clients. They have particular expertise in sectors such as automotive, chemicals, pharmaceuticals, consumer goods, energy, financials, media, telecommunications, technology, transportation and trading companies. The M&A division is in a leadership position in Japan, and structures deals including overseas investments by manufacturers, asset sales for restructuring corporations, and domestic mergers and acquisitions. DSI's activities include products and services related to fixed-income, equities and commodities as well as real estate investments and financing. Activities related to foreign exchange and money market are primarily operated by the Tokyo branch of Deutsche Bank.