Mirae Asset to Acquire Japan's Sanko Securities, Marking "Full-Scale Entry" into Japanese Securities Market

Moves to Acquire a Mid-Sized Japanese Securities Firm for 5 Billion Yen
Expected to Acquire a Chinese Securities Firm After Japan

Mirae Asset Group Chairman Park Hyunju delivers a lecture titled "Global Capital Markets, the Next Generation's Leap Forward, and a New Path for the Korean Economy" at Kyung Hee University's Seoul Campus in Dongdaemun-gu, Seoul, on the 27th. Yonhap News Agency

Mirae Asset Securities will acquire Japan's Sanko Securities, marking its full-scale entry into the Japanese securities market.

According to the Nihon Keizai Shimbun (Nikkei) on October 29, Mirae Asset Securities is expected to sign an agreement on the morning of October 29 to acquire Sanko Securities, a subsidiary of Japan's Okasan Securities Group.

Founded in 1953, Sanko Securities specializes in proprietary trading, using its own capital to seek returns in the market. It has net assets of about 4.6 billion yen (39.1 billion won). Its net profit for the fiscal year ended in March was 48 million yen (400 million won).

Mirae Asset plans to acquire all of Sanko Securities' shares through its U.S. intermediate holding company. The acquisition price is reportedly about 5 billion yen (42.5 billion won).

The key aim of the acquisition is to obtain the licenses needed to enter Japan's securities market. Through the deal, Mirae Asset will secure registration as a "Type I Financial Instruments Business Operator," a requirement for securities firms that trade and underwrite stocks and bonds.

Mirae Asset also plans to pursue business cooperation with the seller, Okasan. The two companies are discussing selling Okasan's clients exchange-traded funds (ETFs) managed by Global X, the U.S. asset manager affiliated with Mirae Asset Group.

Park Hyunjoo, chairman of Mirae Asset Group and its global strategist (GSO), said in a lecture at Kyung Hee University's Seoul Campus on October 27 that the group would pursue mergers and acquisitions (M&A) of companies in countries with larger economies than South Korea, adding that its acquisition of a Japanese securities firm would soon be completed.

Park said he also wanted to acquire securities firms in the United States and China, adding that an M&A deal the group is pursuing in mainland China would probably be completed within the year.

This content was produced with the assistance of AI translation services.