Finance History | Daiwa — Fujimoto Bill Broker on Kitahama
· 1902-5
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Finance History | Daiwa — Fujimoto Bill Broker on Kitahama
kevin
People treat Daiwa as a GranTokyo North Tower that always sat next to Nomura.
The first book discounted bills in Osaka.
In May 1902 Seibei Fujimoto opened Fujimoto Bill Broker in Higashi-ku, later Kitahama, to intermediate short money between banks and firms the way a London bill broker did.
The shop became a stock company in 1906 and a licensed bill-broker bank on 25 March 1907.
Its address was Kitahama 5-chome 30, now Chuo-ku Kitahama 4-chome.
The house changed names with the statutes: Fujimoto Bill Broker Securities in 1933, Fujimoto Securities in 1942.
In 1943 it merged with Nippon Trust Bank and took the name Daiwa Securities.
In April 1999 Daiwa became the first listed Japanese company to convert into a pure holding company, splitting retail and wholesale under Daiwa Securities Group Inc.
The mechanism is the one Fujimoto imported: stand between the call market and the industrial book, and keep enough capital that the bank relationship stays optional.
Photo: Kitahama from the public riverfront, via Wikimedia Commons.
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