Mikaal Abdulla, CEO of Japanese fintech firm 8 Securities, has announced a $25 million investment partnership with Nomura Asset Management, according to a post on LinkedIn.

Nomura said in a statement that the two firms will be developing an app that would offer the Nomura subsidiary’s index funds. The app will be ready for Nomura customers by autumn 2017, according to Deal Street Asia. Reuters says that this is an effort on the part of Nomura to attract younger clients.

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Suggested articles EuropeFX Now Supporting PayPal DepositsGo to article >>

8 Securities offers robo-advisory services through mobile apps using exchange-traded funds, focusing on discretionary management. The deal will give Nomura a majority stake in 8 Securities. Nomura is also going to invest 1.1 billion yen ($10.35 million) in 8 Limited, the Hong Kong-based parent company of 8 Securities, giving it a minority stake in that company. 8 Limited provides online brokerage services in Hong Kong.

Nomura Asset Management is a subsidiary of Nomura Group, which is Japan’s largest brokerage and investment banking group. The services provided by the group include brokerage, banking, investment and financing services, with an emphasis on securities businesses. It has a market cap of more than $21 billion.

Nomura recently released its financial results for the third quarter of financial year 2017/2018, showing marked improvements across the board. The corporation recently hired 15 new directors for its investment banking business in the US. CEO Koji Nagai said to Reuters that a larger US market share is planned as that country produces more than 50 percent of the revenue from investment bank fees. The company has an investment bank in Hong Kong and is planning to open up in mainland China too.