IN BRIEF (Page 16)

Cordial commitment

Citigroup Inc said it is "committed" to its Japanese brokerage unit Nikko Cordial Securities Inc, rebuffing media reports that the division is up for sale as the Wall Street firm splits in two to rebuild capital.

Citigroup "remains committed to maximizing the value of Nikko Cordial over the next few years", the New York-based bank said in an e-mailed statement. Citigroup plans to keep Nikko Cordial, acquired a year ago, for at least another 12 months, two company officials with knowledge of the matter said, declining to be identified.