First Metro Investment Corp. (FMIC) has tapped Tokai Tokyo Financial Holdings Inc. of Japan to help in its expansion drive in the Asia region.
In a statement, FMIC President Juanchito Dispo said that the partnership will increase the visibility of the company in Asia, which will allow it to make job offerings, promotions and establishment of trust products, among others.
“This strategic partnership is a significant step in pursuing our goal to expand our business coverage in the Asian region. This will definitely open up a more diverse client base for First Metro, both here and abroad,” he said.
The memorandum of understanding executed by the two companies covers “collaborative and mutual” partnership that includes exchange of products, information and services between them.
Japan-based Tokai Tokyo is one of the top holding companies in Japan, which is engaged in the sales and purchases of securities, brokerage, public and private offering, as well as fund managing services in Asia and Europe.
“[We] will aim to meet the growing needs of its valued clients through business cooperation with one of the largest financial institutions in the Philippines, as it recognizes great economic potential in the future of the Asean region where robust growth is expected. [We] will strengthen its provision of brokerage services of Philippine equities and relevant investment information for the purpose of helping its clients’ investment activities,” Tokai Tokyo said in a disclosure.
Asean is the Association of Southeast Asian Nations. Other than Asia, FMIC and Tokai Tokyo are searching for other areas to partner with to provide their clients “access of a broader range of financial products and services.”
Tokai Tokyo is the first Japanese company to partner with the Metrobank Group. It currently has a partnership with Singapore brokerage firm DBSVickers Securities Pte. Ltd.