Morningstar Japan K.K. Launches Japan’s First Ever Ratings Services on Cryptocurrencies and ICOs
October 12, 2017 at 11:00 pm EDT
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Morningstar Japan K.K announced the launch of ratings services on cryptocurrencies and ICO. Bitcoin, the world's largest digital currency, and other cryptocurrencies are gaining momentum as their prices hit record high in 2017. ICO activities are being carried out around the world, and many new cryptocurrencies are added to the market. ICO is a new way of raising money by creating tokens and selling them to investors. It is similar to IPO, however cryptocurrencies are traded in the more anonymous environment, and investors are not enough protected with lack of cryptocurrency regulations. In addition, given that not sufficient information is provided, investors cannot make a rational investment decision. This is the first ever ICO ratings service in Japan. Moreover, by December 2017, Morningstar will launch a portal that provides the cryptocurrency news and exchange comparison as well as ratings information.
SBI Global Asset Management Co Ltd, formerly Morningstar Japan KK, is engaged in the financial services and asset management businesses. The Company operates its business through two segments. The Asset Management segment provides investment management services, including the establishment, offering, and management of investment trusts, mainly publicly offered additional equity investment trusts and privately placed bond investment trusts, investment advisory services for Fund of Funds and other funds, and consulting services related to defined contribution pension plans. The Financial Services segment provides data solutions and media solutions. The data solutions sells the web-based version of Stock Newspaper, distributes stock price and corporate information, and provides fund analysis reports and stock reports, among others. The Media Solutions provides advertising on the Company's website, marketing consulting, advertising agency services, among others.