Do Japanese brokers sell stocks/funds by 100 lots??

[HeavyMetal]

Good day everyone,
Questions in subject, I know that IB (international) sells japanese stocks (nominated in yen) this way only - by lots of 100.
So if you want to buy some Toyota stock, which is around Y2,000 per share - you need to invest min. Y200,000 (20 man).

Is this same with Japanese brokers, like Monex, Rakuten etc.?
Also, is there any difference between stocks/funds, and between US/Japanese assets? Or everything that is sold in yen gets sold by hundreds only. That would be crazy but...

Thanks!

[TokyoBoglehead]

With Monex and SBI you can buy single shares of most companies, but at market price.

With PayPay etc you can buy in yen amounts (fractional).

With Rakuten you can buy single shares of companies you already have a full lot.

I assume it's little risk for the brokers to hold odd lots of bigger names, and make money on the spread.

[HeavyMetal]

Thanks for reply!

PayPay is a broker? Or it's just a pay system you can use with Monex etc. to get fractional purchases

With Monex and SBI you can buy single shares of most companies, but at market price.

And this mean - you cannot place a buy limit order (with fixed price)?

[TokyoBoglehead]

Thanks for reply!

PayPay is a broker? Or it's just a pay system you can use with Monex etc. to get fractional purchases

With Monex and SBI you can buy single shares of most companies, but at market price.

And this mean - you cannot place a buy limit order (with fixed price)?

PayPay Securities, they now have PayPay bank as well. Wouldn't recommend the Sec. Firm. They have high fees and few choices.

Yes sir, no limit orders. Market only when I last checked I'll look tonight for you

[mighty58]

It's important to note that the 100-stock purchase units are mandated by the Tokyo Stock Exchange, and not some quirk of any single brokerage. The single-stock purchase options being described here are a special service offered by the brokerages, allowing retail/individuals to more easily dabble in stocks, with the brokerage themselves providing the "market" function. As such, you can't enjoy the typical trading flexibility of stocks. eg. for Monex, all orders must be placed by 11:30am and the price will be whatever the price is at the opening of the afternoon trading session. Miss the 11:30 cutoff, and your order is processed the following day.

[RetireJapan]

It's important to note that the 100-stock purchase units are mandated by the Tokyo Stock Exchange, and not some quirk of any single brokerage. The single-stock purchase options being described here are a special service offered by the brokerages, allowing retail/individuals to more easily dabble in stocks, with the brokerage themselves providing the "market" function. As such, you can't enjoy the typical trading flexibility of stocks. eg. for Monex, all orders must be placed by 11:30am and the price will be whatever the price is at the opening of the afternoon trading session. Miss the 11:30 cutoff, and your order is processed the following day.

Good point, and I believe you don't get shareholder benefits if you buy single shares from blocks (although you do get dividends).

[HeavyMetal]

for Monex, all orders must be placed by 11:30am and the price will be whatever the price is at the opening of the afternoon trading session. Miss the 11:30 cutoff, and your order is processed the following day.

What a madness. Stone age...
Are all those cheap-fees iDeco funds etc. people purchase on iDeco accounts traded same way? Once a day, only?
And, if I agree on buying lot of 100 shares. Can I buy it the time/price (ok let it be market price but anyway) I want?? Or also - 11:30 only.
This all sounds so weird...

[TokyoBoglehead]

for Monex, all orders must be placed by 11:30am and the price will be whatever the price is at the opening of the afternoon trading session. Miss the 11:30 cutoff, and your order is processed the following day.

What a madness. Stone age...
Are all those cheap-fees iDeco funds etc. people purchase on iDeco accounts traded same way? Once a day, only?
And, if I agree on buying lot of 100 shares. Can I buy it the time/price (ok let it be market price but anyway) I want?? Or also - 11:30 only.
This all sounds so weird...

All mutual funds are traded at the end of the trading day. That's standard international practice whether it be Vanguard or MUFJ.

Yes, you can click buy on 1 share anytime you want.

[TokyoBoglehead]

Monex is the leader here with Single shares.

[mighty58]

What a madness. Stone age...
Are all those cheap-fees iDeco funds etc. people purchase on iDeco accounts traded same way? Once a day, only?
And, if I agree on buying lot of 100 shares. Can I buy it the time/price (ok let it be market price but anyway) I want?? Or also - 11:30 only.
This all sounds so weird...

If you buy in the normal 100-stock units, then yes, you can buy/sell in anyway you like, ie. "normally", including limit orders and all the other fancy stuff. The restrictions mentioned above only apply to single-stock purchases because, again, it's not standard and is just offered as a service by brokerages to their retail clientele.