Tsutomu Nakajima and Kenichi Hasegawa formed Nippon Wealth in 2012 as a support system for Japanese people living outside of their home country and needing financial advice. Offering services in English, Japanese, and Cantonese, Nippon Wealth sets itself apart by requiring a minimum deposit of only $100,000—far below the typical $1 million requirement. And because the company is located in Hong Kong, it’s able to offer a wealth of services to its clients.
Nippon Wealth functions at full strength today in large part because of the 50% stake in the business owned by Shinsei Bank, whose board, including J. Christopher Flowers, agreed with Nakajima an Hasegawa about the importance of offering game-changing services to an underserved population in Hong Kong.
When Nakajima and Hasegawa met in August 2012, Nakajima, then the chairman at Monex International, noted that the needs of local Japanese weren’t being met by the banking services available at the time. The two businessmen decided to combine forces to create Nippon Wealth.
But the road to a new banking system wasn’t easy. Nakajima and Hasegawa went to a number of Japanese companies to raise capital, but it wasn’t until Shinsei Bank (one of Nakajima’s former employers) entered the ring that Nippon Wealth really got its start.
In the spring of 2015, Nippon Wealth was granted its license to handle securities, insurance, and property referrals to its customers. The variety of services the bank can offer depends in large part on the opportunities inherent in Hong Kong: “We can do small-scale investment, and we can also offer bonds and mutual funds that are tough to buy in Japan,” noted Hasegawa.
By bringing the dependability and integrity referred to as “Japan Quality” to Hong Kong, Nippon Wealth has been able to capitalize on a growing market, providing individualized services in multiple languages and areas.