Jefferies Financial Group Inc. ( JEF Quick Quote JEF - Free Report) recently announced an alliance with Japan-based SMBC Nikko Securities. This is part of the company’s efforts to expand its presence in Asia. SMBC Nikko Securities, the major Japanese securities firm, provides consulting services and solutions to its clients through 140 branches.
Through this alliance, selected United States equity research reports published by Jefferies will be made available for translation and distribution to SMBC Nikko Securities’ retail clients. Further, as part of the deal, a new translation platform will be established by SMBC Nikko Securities, which will translate Jefferies’ research reports into Japanese. Notably, along with the translated research reports, clients will get the English version as well.
At the onset, the coverage will be limited to certain "high-profile stocks", with gradual expansion to about 100 stocks. Additionally, in the beginning, the service will be offered through SMBC Nikko Securities' sales staff and thereafter, through email and the Nikko EZ website system.
Pete Forlenza, global head of equities at Jefferies, said "This new alliance with SMBC Nikko Securities represents another innovative way to reach and service global clients and investors interested in Jefferies’ industry-leading U.S. equities research."
Makoto Nishioka, executive officer and head of product marketing at SMBC Nikko Securities INC, noted "This research alliance with Jefferies will strengthen our offering for customers who already are investing in or considering investing in US equities."
For the past few years, Jefferies has been undertaking initiatives to expand its presence in Asia. Earlier, the company had entered into a similar alliance with DBS Wealth of Singapore and Standard Bank’s SBG Securities. Furthermore, the company has been expanding its footprint in the region, having added roughly 200 employees in the last couple of years to cater to the global institutional client base.
In the past year, shares of Jefferies have appreciated 15.5%, as against the 18.1% decline of the
industry it belongs to.
Currently, Jefferies carries a Zacks Rank #3 (Hold).
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