According to business daily, Nihon Keizai Shimbun, Japanese-based Nikko Cordial Corp will strengthen overseas operations in India and China.

By summer 2005, the company will establish the first major Japanese securities unit in New Delhi, India. Here, Nikko Cordial Asset Management will oversee the setting up of funds investing in Indian stocks.

Also, the Nikkei said that the company would open an office in Shanghai. At present, the company already has units in Beijing and Hong Kong. Nikko Cordial will expand its Chinese presence to focus on the asset management and investment needs of growing markets.

Additionally, the company's subsidiary, Nikko Principal Investments Japan Ltd, would establish a unit in Australia. They choose the country because of its similar legal system with the UK, where they are based.