Mirae Asset to Acquire Japan's Sanko Securities, "Making Full-Scale Entry into Japanese Stock Market" (Updated)

Mirae Asset to Sign Deal Today to Acquire Japan's Sanko Securities for 5 Billion Yen
Plans Full-Scale Entry into Japanese Stock Market

Mirae Asset Group Chairman Park Hyunjoo speaks at a lecture titled “Global Capital Markets, the Next Generation’s Rise, and a New Path for the Korean Economy” at Kyung Hee University’s Seoul Campus in Dongdaemun-gu, Seoul, on the 27th. Yonhap News

Mirae Asset Securities is acquiring Japan's Sanko Securities, marking its full-scale entry into the Japanese securities market. Having secured a license through the acquisition of a local securities firm, it is expected to begin full-scale operations targeting Japanese financial consumers as early as next year.

According to the Nihon Keizai Shimbun (Nikkei) on October 29, Mirae Asset Securities is expected to sign an agreement later that morning 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 pursue 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). This will be Mirae Asset Securities' first entry into Japan's proprietary stock trading business. The company plans to retain Sanko Securities' existing employees and expand its business operations.

The key objective of the acquisition is to secure the licenses required to enter Japan's securities market. Through the deal, Mirae Asset will obtain registration as a Type I Financial Instruments Business Operator in Japan, which is required for securities firms that handle stock and bond trading and underwriting.

Mirae Asset also plans to pursue business cooperation with seller Okasan. The two companies will discuss ways to sell Okasan customers exchange-traded funds (ETFs) managed by Global X, the U.S. asset manager affiliated with Mirae Asset Group, among other products.

Park Hyun-joo, chairman of Mirae Asset Group and its Global Strategy Officer (GSO), said at a lecture held at Kyung Hee University's Seoul Campus on October 27, "We will pursue mergers and acquisitions (M&A) of companies in countries with economies larger than South Korea's," adding that "the acquisition of a Japanese securities firm will soon be completed."

Park said, "We would also like to acquire securities firms in the United States and China," adding, "In particular, the M&A we are pursuing in mainland China will probably be completed within this year." Mirae Asset Securities has expanded its overseas business base, including by acquiring Indian brokerage Sharekhan in 2024 to grow its retail business.

The acquisition of a Japanese securities firm by a South Korean financial company is reportedly a first. Daewoo Securities and Samsung Securities previously entered Japan's stock market, but neither achieved significant success. The Nikkei analyzed Mirae Asset Securities' acquisition of Sanko Securities as an example of renewed interest in the Japanese market among foreign financial companies.

The Nikkei said, "There may be more cases in the future of companies acquiring smaller securities firms, as Mirae Asset Securities has done," adding, "More Japanese small and midsize securities firms facing challenges such as business succession and an aging customer base may sell their businesses to foreign financial companies."

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