Makoto Kuroda

Goldman Sachs Japan Co., Ltd. (GSJCL) is the Japan-based broker-dealer subsidiary of Goldman Sachs (Japan) Ltd., ultimately held by The Goldman Sachs Group, Inc. (NYSE: GS) in the US. The firm originated in 1974 and was formally founded in 1983. Headquartered in Tokyo, GSJCL offers Internet-based transaction services covering equity, debt, commodities and derivatives to a substantial and diversified client base, which includes corporations, financial institutions, governments and high net worth individuals.

CLSA Securities Japan Co., Ltd. (CLSA Japan) is the Japan-based brokerage subsidiary of CLSA Ltd., itself a subsidiary of CITIC Securities Co., Ltd. (SH: 600030; HK: 6030; PK: CIIHY) in China. The firm was established in 2004 as Calyon Securites Ltd. They subsequently became Credit Agricole Securities Asia B.V., Tokyo Branch and changed their name to CLSA Securities Japan Co., Ltd. in 2013 when they merged with CLSA Japan Co. Headquartered in Hong Kong, CLSA Japan provides brokerage services including Japanese & Asian research and European equities. The CLSA Japan team works closely with the global sales teams in London, NY, Hong Kong and Singapore.

Credit Suisse Securities Japan Ltd. (CSS Japan) is the Japanese securities brokerage subsidiary of Credit Suisse AG, which is owned by Credit Suisse Group AG (SWX: CSGN; NYSE: CS) in Switzerland. The firm was founded in 1985 as First Boston Securities Tokyo. It subsequently became CS First Boston Securities in 1989 and Credit Suisse First Boston in 1996. In 2006, they began operating as Credit Suisse Securities Japan Ltd. Headquartered in Tokyo, CSS Japan performs underwriting, research, sales and trading of government and corporate bonds, foreign exchange, securitized products and real estate-related assets for institutional clients, corporations and government bodies. In addition, the firm offers sales, trading, research, financing, prime brokerage and market-making in Japanese and international equity and equity-related securities, options, futures, risk management and hedging products.

JPMorgan Securities Japan Co. Ltd. (JPMS-J) is the brokerage subsidiary of JPMorgan International Finance Ltd., itself a subsidiary of JPMorgan Chase & Co. (NYSE: JPM) in the US. Headquartered in Tokyo, Japan, JPMS-J provides investment banking services, intermediary of Global Custody service and other asset servicing business provided by JPMorgan Chase Bank N.A. and its group companies.