South Korea’s Mirae Asset Group is reportedly considering acquiring a Japanese brokerage, and the company acknowledged the facts in a timely disclosure. It has also been reported that, with New NISA in mind, the group plans to narrow its acquisition targets to 3 or 4 companies.
A scoop reporting that South Korea’s Mirae Asset Group was considering the acquisition of a Japanese brokerage appeared in the Korea Economic Daily, and Mirae Asset acknowledged the facts in a timely disclosure the following day. The specific acquisition target has not been disclosed.
Following the report, local media reported that the group was considering narrowing the acquisition targets to 3 or 4 companies, and this became widely recognized among market participants as information from people familiar with the matter.
The market reacted on the 27th, with shares of mid-sized and smaller brokerages bought up. Matsui Securities in particular rose 4.7% from the previous day.
Mirae Asset explained its aims in entering the Japanese market by saying, “Our growth platform and competitiveness are not limited to the South Korean market.”
This article originated with Toyo Keizai Online and is based on the content of local media reports.