Gakuwa Yamakawa

Mitsubishi UFJ Morgan Stanley Securities Co., Ltd. (MUMSS) is an independent securities brokerage firm headquartered in Tokyo, Japan. The firm was founded in 1948 through a joint venture between Mitsubishi UFJ Securities Holdings Co. Ltd. and Morgan Stanley Japan Holdings Co. Ltd. MUMSS offers domestic retail brokerage services to corporate and institutional clients.

Nikko Citigroup Ltd. (Broker) (NC-BR) is the brokerage operating division of Nikko Citigroup Ltd., the Tokyo-based wholesale brokerage arm of Citigroup, Inc. (NYSE: C). Established in 2007, the firm was previously known as Nikko Citigroup Securities Co. Ltd. and can trace their origins back to 1944 when Nikko Securities Ltd. was founded. In 1999 Nikko Cordial Corp. (TSE: 8603) and Citigroup combined operations to become a global wholesale investment bank offering. NC-BR offers asset management consulting and investment advice to retail and corporate clients. They operate in close relationship with Nikko Citigroup for underwriting, M&A advisory services, and fixed-income and equity trading.