As foreign-affiliated securities firms expand their businesses in Japan, South Korean securities firm Mirae Asset Securities has finalized plans to acquire Sanko Securities, a subsidiary of Okasan Securities Group, and launch Japanese equity dealing. The acquisition is expected to receive board approval on the 29th and be announced the same day.
Foreign-affiliated securities firms are stepping up efforts to expand in the Japanese market. South Korean major securities firm Mirae Asset Securities has finalized plans to acquire Sanko Securities, a subsidiary of Okasan Securities Group, to strengthen its dealing business in Japan.
Specifically, Mirae Asset will acquire Sanko Securities and launch Okasan Group's Japanese equity dealing business, centered on proprietary trading. Details of the acquisition structure are expected to be approved at board meetings of both companies to be held on the 29th and announced the same day.
This article is a summary of an article published in print. Specific figures and timing, including the formal completion and terms of the transaction, remain subject to publicly available information. The expansion of Japanese equity dealing by overseas investors could affect liquidity and trading structures in the Japanese market.
Sanko Securities, the acquisition target, is a securities company under Okasan that specializes in proprietary trading. The transaction will enable Mirae Asset to enter the Japanese equity dealing business.