Japan’s Daiwa Securities Group plans to expand its services to affluent Japanese expatriates in Southeast Asia by establishing an office in Thailand, President and CEO Akihiko Ogino told Nikkei Asia. The firm intends to set up a subsidiary in Thailand once it secures approval from local regulators, extending its reach beyond existing offices in Singapore and Hong Kong. Daiwa aims to capitalise on the increasing number of Japanese citizens relocating to Asia for education and other reasons. In Hong Kong, the company seeks to attract more high-net-worth individuals beyond its Japanese client base, including wealthy Chinese customers, while adhering to strict know-your-customer protocols. Daiwa reported a pretax profit of JPY19.9bn (USD133m) from overseas operations last fiscal year.