Sumitomo Bank Ltd. and Daiwa Securities Co.--Japan's second-largest bank and brokerage--may combine their capital market and corporate client units in a joint venture, a Sumitomo Bank official said.
The companies will meet the press today to discuss their plans, a Daiwa Securities spokesman said. The directors of Osaka-based Sumitomo Bank have not made a formal decision on the joint venture and will discuss it at a meeting today, the bank official said.
