Overview
Daiwa Capital Markets America Inc. is ultimately owned by Daiwa Securities Group Inc., one of the largest brokerage and financial services groups in Japan.
Founder: Seibei Fujimoto • Location at that time: Yokobori, Higashi-ku, Osaka
Fujimoto Bill Broker began with the aim of establishing itself as a full-fledged, British-style bill broker that would eventually find a niche for itself in the intermediation of funds between financial institutions and business corporations. Since its inception, the company has expanded its business and established a position in the call market based on the procurement of funds from the call market and self-accounting purchase of bills.
Call money markets of that time, as a general rule, were secured by government bonds from call money vendors, and in other cases, financing was received from banks. Given this, securities companies were, for the most part, positioned as members within specified bank groups. However, as the company had the capability to procure sufficient capital from call money markets, there were only nominal relationships with banks, which led to the independence of Daiwa Securities that was to come.
