Advantage Partners Divests Kazaka Securities

Kazaka Securities, a major subsidiary of Kazaka Financial Group, which is 100% owned by Advantage Partners, will be purchased by Osaka-based Naito Securities. Naito Securities has client assets worth about JPY 350 billion. The acquisition of Kazaka Securities and Kazaka's JPY 300 billion client assets will make Naito Securities one of the larger medium-size brokerages in Japan.

Advantage bought Kazaka Financial Group in December 2006 from LiveDoor, which was seeking asset divesture as part of its corporate restructuring.