The Toho Bank (TYO:8346) will dissolve and liquidate its wholly owned subsidiary, Toho Securities Co., following the transfer of its customer accounts to Nomura Securities earlier this month, according to a Tuesday filing on the Tokyo Stock Exchange.

The move follows a comprehensive business alliance in financial products intermediary services signed with Nomura in July 2024. The liquidation is expected to be completed by the end of the current fiscal year, ending March 2026.

Toho Securities, established in 2015, had posted three consecutive years of losses.