Description One of the top brokerages in Japan, Nikko Cordial Securities trades in equities, fixed-income products, and investment trusts for retail and institutional investors. The company has about ¥27 trillion ($300 billion) of assets under management in some 2,500 client accounts. Formerly part of Citigroup, Nikko Cordial was sold to a subsidiary of Sumitomo Mitsui Financial Group in 2009 for some $8.7 billion, including cash and debt considerations. The firm sold most of its stake in private equity investment subsidiary Nikko Antfactory for $140 million in 2008. The relatively small divestiture portended Citigroup's sale of non-core operations in Japan, including Nikko Cordial.