In June 2009, the former Nikko Cordial Securities Inc. set up Nikko Cordial Securities De-Merger Preparatory Company Ltd., and on October 1, 2009, succeeded all of the operations (excluding selected assets and liabilities) of the former Nikko Cordial Securities Inc. and certain businesses, including the domestic debt and equity underwriting businesses, of Nikko Citigroup Limited (current Citigroup Global Markets Japan Inc.) by means of an absorption-type corporate demerger. On October 1, 2009, after succeeding such businesses, Nikko Cordial Securities De-Merger Preparatory Company Ltd. renamed itself as Nikko Cordial Securities Inc. to start as a new securities and investment banking firm, with retail and wholesale business arms.
As of October 1, 2009, Sumitomo Mitsui Banking Corporation acquired all the shares in the renamed Nikko Cordial Securities Inc., and through this operation, the renamed Nikko Cordial Securities Inc. became a member of Sumitomo Mitsui Financial Group. 

*In this document, Nikko Cordial Securities Inc. before the name change (after the name change: Citigroup Overseas Holdings Inc.) that assigned all the operations to a succeeding company (before the name change: Nikko Cordial Securities De-Merger Preparatory Company Ltd., and after the name change: Nikko Cordial Securities Inc.) as a demerged company, is termed the "​ former Nikko Cordial Securities Inc."​

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