Korea’s Mirae Asset Moves to Buy Japan’s Sanko Securities for $35.5 Million
By Damian Chmiel
AI summary of the source article
South Korea's Mirae Asset Securities plans to acquire Tokyo trading firm Sanko Securities for approximately 47.6 billion won ($35.5 million) through its US subsidiary, subject to regulatory approvals and Sanko's board vote.
Why it matters
A company official described the purchase as "an important step toward establishing a foothold in Japan."
Key facts
- Mirae Asset Securities' board approved the acquisition of Sanko Securities for about 47.6 billion won ($35.5 million).
- The purchase will be executed via Mirae Asset Securities Holdings (USA) Inc., supported by a 12 billion yen injection from the parent company.
- The transaction remains subject to regulatory approvals and approval from Sanko Securities' board.
Source excerpt · Finance Magnates
South Korea's Mirae Asset Securities plans to buy Sanko Securities, a Tokyo trading firm owned by Okasan Securities Group, for about 47.6 billion won (about $35.5 million). Its board approved the deal today (Thursday), the company said in a regulatory filing. The purchase gives Mirae a registered Japanese securities firm in a market where retail broker traffic is rising. Organic visits from Japan…