Nikko Cordial

{{Short description|Former Japanese holding company}}

{{Infobox company

| name = Nikko Cordial Corporation
株式会社日興コーディアルグループ

| native_name =

| native_name_lang = ja

| logo =

| location_country = Japan

| traded_as = {{TYO|8303}}
{{SGX|N06}}

| type = K.K.

| homepage = {{URL|nikko.co.jp}}

| romanized_name =

| founded = {{start_date|1944|04|01}}

| industry = Brokerage

| location_city = Chuo, Tokyo

| successor = SMBC Nikko Securities

| defunct =

}}

Nikko Cordial Corporation {{nihongo|2=株式会社日興コーディアルグループ|3=Kabushiki-kaisha Nikkō Kōdiaru Gurūpu}} was the holding company for Nikko Cordial Securities, Japan's third largest brokerage until 2008, when Nikko Cordial Corporation became a wholly owned subsidiary of Citigroup; upon completion of share exchange, it merged with Citigroup Japan Holdings Ltd. to form Nikko Citi Holdings Inc., before changing its name to Citigroup Japan Holdings Corp. in 2009.

Nikko Cordial sued three of its former executives for fraud, including former Chief executive officer Junichi Arimura, for ¥3.4 billion. Nikko Cordial's profits decreased by 32.9% following the scandal.{{Cite web|last=Takahara|first=Kanako|date=2007-04-25|title=Nikko Cordial's fraud sends 2006 profits down|url=https://www.japantimes.co.jp/news/2007/04/25/business/nikko-cordials-fraud-sends-2006-profits-down/|access-date=2020-07-18|website=The Japan Times|language=en-US}} The lawsuit was settled by Citigroup in June 2009.{{Cite web|date=2009-06-18|title=Citi settles Nikko Cordial accounting lawsuits|url=https://www.japantimes.co.jp/news/2009/06/18/business/citi-settles-nikko-cordial-accounting-lawsuits/|access-date=2020-07-18|website=The Japan Times|language=en-US}}

In 2007 Citigroup acquired a majority shareholding in Nikko Cordial for $7.7 billion.{{Cite news|date=2007-04-27|title=Citigroup wins control of Japan's Nikko Cordial|language=en|work=Reuters|url=https://www.reuters.com/article/us-nikko-citigroup-idUSN2645727120070427|access-date=2020-07-18}} In October 2009, all of the operations of Nikko Cordial Securities and certain businesses of Nikko Citigroup, such as the domestic stock and bond underwriting business among others, were sold to Sumitomo Mitsui Financial Group.{{Cite web|title=Citi Successfully Completes Sale of Nikko Cordial Securities to Sumitomo Mitsui Banking Corporation|url=https://www.citigroup.com/citi/news/2009/090930h.htm|access-date=2020-07-18|website=www.citigroup.com}} Nikko Cordial was being reorganized into a new subsidiary company, SMBC Nikko Securities Inc., in April 2011.{{Cite web |title=History of SMBC Nikko Securities Inc. |url=https://www.smbcnikko.co.jp/en/profile/overview/history.html |access-date=2024-06-07 |website=www.smbcnikko.co.jp}}