Name doesn't match "Hofuri" JASDEC (証券保管振替機構)

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ToushiTime
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Name doesn't match "Hofuri" JASDEC (証券保管振替機構)

Post by ToushiTime »

Hi, this is a bit of a long-shot, but,

I received an "important notification" from Rakuten Securities that my name and/or address doesn't match the data on the JASDEC ("Hofuri") securities depository system.

Does anyone have any experience of this?

Edit:
I called Rakuten and found the problem was because Monex insisted on putting my name in katakana due to my English name being too long.

Unless I change the name on Monex soon, JASDEC will replace the English name that Rakuten registered with the katakana name from Monex, which I joined later.

The other option is to change my English name to katakana on Rakuten, but the operator said ideally the name should be in English to match the Zairyu card and MyNumber card. The operator wasn't sure but seemed to think that my Rakuten Bank MoneyBridge and Rakuten Card payments to Rakuten Security would still be accepted as the kana names would match. I'd rather not risk it. Also I use SBI which has butchered my name due to their inflexible systems, so even if I changed the Rakuten name, it might get over-written with the garble from SBI.

The operator said that even if JASDEC changes my registered data to katakana, the name on my Rakuten Securities account will not change unless I alter it. He said I would just continue to get the 重要知らせ about the account name differing from the JASDEC name
Crucially, he said that I would still be able to buy and sell even if the JASDEC names don't match.

So I can, do nothing, or change the Rakuten name to kana, but I would probably still have issues with SBI not matching. What a mess! I could consolidate all my accounts into Rakuten, but each brokerage has different pros and cons, so I'd rather not
TokyoBoglehead
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Re: Name doesn't match "Hofuri" JASDEC (証券保管振替機構)

Post by TokyoBoglehead »

Do nothing, they have your My number and residence information.
That's enough for KYC, all the rest is an issue with their database.

Name issues are abound in Japan, this kind of thing happens to women post marriage as well.
ToushiTime
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Re: Name doesn't match "Hofuri" JASDEC (証券保管振替機構)

Post by ToushiTime »

The Rakuten guy called back and said the bank transfers would still work if I changed the account main name to kana, as long as I left the furigana name unchanged but Rakuten are not happy about messing with an English name that matches that on the MyNumber card perfectly, and I don't want to do that either.

As my SBI and Rakuten English names have been different to each other for 2 years or so with no complaint from JASDEC, he and I agreed that the problem was probably from Monex, which only has the kana name.

I did my first trade with Monex about two weeks ago and the warning came a week after that.

He said JASDEC had a bee in its bonnet about the name being in kana at one brokerage but not the other, so I need to sort that out with Monex.
On the second call to me, after he checked with JASDEC, he said the brokerage names should all match up to avoid crap in the future, including not being able to trade, because the brokerage account name doesn't match the account in my name at the electronic depository of JASDEC.
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