Tullett Prebon, one of the world’s leading interdealer brokers, and its long-time joint venture partner in Japan, Central Tanshi, have agreed to reorganise their Tokyo business operations.

Following a strategic review by Central Tanshi of its Tokyo businesses, Central Tanshi has agreed to sell to Tullett Prebon its stake in Yamane Tullett Prebon (Japan) Limited, which has been operated as a joint venture between the two companies since it was created in 1997.

As a result of the acquisition, Yamane Tullett Prebon (Japan) Limited will become a wholly owned subsidiary of the Tullett Prebon Group and will be renamed "Tullett Prebon (Japan) Limited".

Barry Dennahy, CEO of Asia Pacific at Tullett Prebon, said: "We have had a long and mutually beneficial relationship with Central Tanshi. Their contribution to and support of our Tokyo joint venture has been invaluable. We are looking forward to continuing to work with our customers to meet their price discovery and trading needs."