Mirae Asset Securities is entering the Japanese market by acquiring Sanko Securities. The acquisition amount is approximately 47.6 billion won, with Mirae Asset Securities purchasing 100% of Sanko Securities' shares. Following the acquisition, Mirae Asset Securities plans to strengthen its proprietary trading business through additional investment and enhance local operations, including retail services in Japan.
Mirae Asset Securities announced on the 29th that it has signed a share purchase agreement (SPA) to acquire 100% of Sanko Securities, which is under the Okasan Securities Group, through its U.S. subsidiary. The deal is valued at 47.6 billion won.
To facilitate this transaction, Mirae Asset Securities plans to contribute approximately 100.6 billion won (approximately 12 billion yen) to its U.S. subsidiary, US Holdings. A portion of the capital contribution will be used as payment for the acquisition of Sanko Securities shares. The remainder is expected to be injected into Sanko Securities through US Holdings after the closing of the transaction to serve as funding for business expansion in Japan.
The closing of the transaction is scheduled to take place after the fulfillment of preconditions stipulated in the contract. A specific timeline has not yet been determined.
Sanko Securities currently operates a proprietary trading (Dealing) business. After acquiring the shares, Mirae Asset Securities plans to strengthen its existing proprietary trading operations and reinforce its local operational foundation. The company intends to proceed with retail business initiatives after completing procedures in accordance with relevant laws and regulations and organizing its corporate structure.
This contract is part of a strategy to secure a foothold for Mirae Asset Securities' business in Japan and expand its global operations. Japan operates asset formation-related systems, such as the Nippon Individual Savings Account (NISA) tax exemption scheme for small-scale investors. Mirae Asset Securities plans to seek new business opportunities in the market based on its local operational foundation.
This transaction is driven by the strategic objectives of both parties, and Mirae Asset Securities will also discuss the possibility of cooperation with the Okasan Securities Group in product and service areas going forward.
A Mirae Asset Securities official stated, "This is an important opportunity to secure a local business foundation in Japan and expand our global operations." The official added, "We are preparing our business to align with the local market and regulatory environment, strengthening Sanko Securities' existing operations while planning to advance retail business initiatives in the future."
Park Hyeon-ju, Chairman of Mirae Asset Group and Global Strategy Officer (GSO), has presented the 'Mirae Asset 3.0' vision with the goal of building a global investment platform, driving the expansion of the global financial network and strengthening digital finance competitiveness. Based on this, Mirae Asset Securities plans to expand its global business through organic growth and mergers and acquisitions (M&A).
On the 27th, Chairman Park mentioned during a special lecture commemorating the 60th anniversary of the establishment of the Graduate School of Business at Kyung Hee University that "another M&A deal by Mirae Asset will be announced." Industry insiders speculated this referred to the recent acquisition of a Japanese securities firm that Mirae Asset has been pursuing.
As of the end of June, Mirae Asset Securities operates 25 local subsidiaries and three offices in 11 regions worldwide, including Hong Kong, the United States, India, and Vietnam. Its global workforce numbers approximately 5,300 employees.
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