SBI Holdings CEO Yoshitaka Kitao speaks during an interview in Tokyo. | REUTERS

Sumitomo Mitsui to take 10% stake in SBI Holdings for ¥79.6 billion

Sumitomo Mitsui Financial Group said Thursday it will acquire a roughly 10% stake in Japanese internet financial giant SBI Holdings in a deal worth ¥79.6 billion ($585 million) to strengthen its online brokerage service.

Through the capital alliance, the two financial giants aim to expand their customer base by making use of SMFG’s wide customer base, ranging from retail to corporate clients, and SBI Holdings’ younger customers.

In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.



Source link

You may also like

Popular News

Popular Posts
Featured Posts
Recent Posts
Popular in Bitcoin
Trending Posts