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Finance

SMFG in talks to buy 10% stake in SBI Holdings

Japanese groups seek synergy in online securities in deal worth around $590m

SMFG and SBI Holdings are hoping to deepen their reach into the Japanese market by combining their strengths. (Source photos by Rie Ishi and Tokuyuki Matsubuchi)

TOKYO -- Japan's Sumitomo Mitsui Financial Group is in final talks to acquire about a 10% stake in SBI Holdings with the aim of boosting their securities businesses, Nikkei has learned, in a deal that could be worth around 80 billion yen ($587 million).

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