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
