GMO Click Holdings Inc (TYO:7177), the parent company of Japanese online trading giant GMO Click Securities, is set to launch operations in Thailand by the end of 2016, the company announced today.
Through the newly-licensed company dubbed ‘GMO-Z com Trade (Thailand) Limited’ GMO intends to further expand its operations across the Asia-Pacific region.
FBS Gives Presents Daily in Christmas Advent ProjectGo to article >>
The broker said in a notice published today in Japanese that its board of directors decided at the meeting held on October 6 2016 to establish a subsidiary in the Kingdom of Thailand. GMO noted that the new launch aims to make its services more accessible to the region’s traders.
The new brand will operate from Bangkok, the capital of and the most populous city in Thailand. Meanwhile, GMO expects to bump investments of nearly 100 million Thai baht (about 300 million yen). The planned date for starting business of the new subsidiary is September 2017, which assumes that GMO will be able to acquire the securities business license in Thailand before the official launch. Forex trading is regulated in the country by the Securities and Exchange Commission of Thailand
In the current stage, GMO Click expects minor effects from the new subsidiary operations on the company’s consolidated results, but the exact impacts should be disclosed in the future.