Ueda Harlow to Buy Forex Margin Trading Biz of Mitsubishi Unit

Tokyo, Jan. 25 (Jiji Press)--Japanese money broker Ueda Harlow Ltd.
has agreed to acquire foreign exchange margin trading operations of major
trader Mitsubishi Corp.'s <8058> commodity futures unit, Jiji Press learned
Monday.

Ueda Harlow will take over clients of the Mitsubishi unit,
Mitsubishi Corp. Futures Ltd., on March 27, sources familiar with the matter
said.
The money broker is aiming to strengthen its foreign exchange
margin trading service as competition is seen intensifying following the
planned introduction of tougher regulations by the government.
Ueda Harlow has 8 billion yen in customer assets for its foreign
exchange margin trading service while the asset balance stands at 3 billion
yen at Mitsubishi Corp. Futures.
After selling the operations, Mitsubishi Corp. Futures intends to
improve profitability by concentrating its management resources on its
mainstay commodity futures trading service, according to the sources.

Attachments: