Nomura completes investment in LVC in accordance with blockchain-focused alliance agreement
LINE, LVC Corporation, and Nomura Holdings have entered into a final agreement to form a partnership that focuses on blockchain technology.
LINE Corporation, LINE’s group company LVC Corporation, and Nomura Holdings Inc (TYO:8604), today announce they have entered into a final agreement to form a financial business partnership that focuses on blockchain technology. The agreement follows the signing of a memorandum of understanding by the companies in January 2019.
In accordance with the partnership terms, Nomura has completed its investment in LVC today. In this long-term partnership, the three stakeholders aim to collaborate in order to build a new financial service using blockchain technology.
The three parties’ decision to enter into the agreement is based on their collective intent to leverage LINE’s large user base and the LINE app’s secure and convenient UI/UX, and the Nomura Group’s wealth of financial business knowledge to collaborate in blockchain-based business opportunities.
The conclusion of the agreement may affect LINE, LVC, and Nomura’s respective consolidated earnings. The companies will promptly make an announcement if the possibility of a material impact arises in the future.
Blockchain technology has been developed and adopted by many Japanese companies. In November 2018, for instance, NRI SecureTechnologies, a subsidiary of Nomura Research Institute Ltd (TYO:4307), unveiled its “Blockchain Security Monitoring Service”. The solution detects and reports security vulnerabilities in information systems and services that use blockchain technology. The first use will be as a monitoring service for smart contracts on Ethereum.