Signs share purchase agreement with Okasan Securities Group

Deal closing subject to fulfillment of conditions precedent

Mirae Asset Group Chairman Park Hyun-joo delivers a special lecture titled "Global Capital Markets, the Leap of the Next Generation, and a New Path for the Korean Economy" at Kyung Hee University's Seoul campus in Dongdaemun-gu on Tuesday. [Yonhap]
Mirae Asset Group Chairman Park Hyun-joo delivers a special lecture titled "Global Capital Markets, the Leap of the Next Generation, and a New Path for the Korean Economy" at Kyung Hee University's Seoul campus in Dongdaemun-gu on Tuesday. [Yonhap]

Mirae Asset Securities said Thursday it has signed a share purchase agreement with Japan's Okasan Securities Group to acquire a 100 percent stake in Sanko Securities, a Japanese brokerage.

Sanko Securities is a subsidiary of Okasan Securities Group and currently operates a proprietary trading business.

The transaction will be carried out through Mirae Asset Securities' US subsidiary, US Holdings, into which the company plans to inject about 100.6 billion won ($75.3 million), equivalent to 12 billion yen. Of that amount, approximately 47.6 billion won will go toward acquiring Sanko Securities shares, with the remainder to be channeled through US Holdings into Sanko Securities after the deal closes to fund business expansion in Japan.

The closing of the transaction is contingent on the fulfillment of conditions precedent under the agreement, and a specific timeline has not been set.

Following the acquisition, Mirae Asset Securities plans to strengthen Sanko Securities' existing proprietary trading operations and build out its local operational foundation. The company intends to pursue retail brokerage services after completing the necessary regulatory procedures and organizational restructuring.

The deal is part of Mirae Asset Securities' broader strategy to establish a business base in Japan and expand its global operations. Japan operates asset-building programs such as the Nippon Individual Savings Account, or NISA, a tax-exempt small-investment regime, and Mirae Asset Securities plans to explore new business opportunities in the market by leveraging its local presence.

The transaction reflects the strategic objectives of both parties, and Mirae Asset Securities said it plans to discuss potential cooperation with Okasan Securities Group in the areas of products and services. Specific details of any collaboration have yet to be finalized.

"This SPA signing is an important milestone in securing a local business base in Japan and expanding our global operations," a Mirae Asset Securities official said. "We will prepare our business in line with local market conditions and regulations, strengthen Sanko Securities' existing operations, and work through the required regulatory and organizational processes with the goal of eventually launching retail brokerage services."

Mirae Asset Group Chairman Park Hyun-joo, who also serves as global strategist, has been advancing the "Mirae Asset 3.0" vision aimed at building a global investment platform, with a focus on expanding the group's international financial network and enhancing its digital finance capabilities.

As of the end of June, Mirae Asset Securities operated 25 local subsidiaries and three offices across 11 regions worldwide — including Hong Kong, the United States, India and Vietnam — with a global workforce of approximately 5,300.

Park had signaled the move at a special lecture at Kyung Hee University's Seoul campus on Tuesday, announcing that the group would disclose a merger and acquisition involving a securities firm in Asia. Park also said a separate acquisition under way on the Chinese mainland would be completed this year.


jiyun@heraldcorp.com