According to reports, the deal would enable users to open accounts with the two brokerages and trade stocks via the Yahoo! Japan web site.

The new web-based trading tools are a welcome addition to the internet search company’s financial services offerings, which increased following its previous alliance with Japan’s Aozora Bank in January this year that enabled the firm to enter the internet banking business.

Observers are expecting the deal to be signed later this week with the release of the new service apparently planned for August.