Mirae Asset Securities buys Japan's Sanko Securities from Okasan for about 5 billion yen
In short
Mirae Asset Securities has agreed to buy all of Sanko Securities, a proprietary-trading broker owned by Japan's Okasan Securities Group, through a US subsidiary. Korean outlets, citing Nikkei, put the price at about 5 billion yen. The deal gives Mirae a Japanese Type I financial instruments business registration.
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Mirae Asset Securities is acquiring Sanko Securities, a brokerage under Japan's Okasan Securities Group, Korean outlets reported on 29 October, citing the Nikkei. The Nikkei said the two companies would each hold board meetings that day to approve the share purchase and announce it. Mirae will buy all of Sanko's shares through an intermediate holding company in the United States. [ 2 , 3 , 4 , 5 , 7 ]
Later on 29 October, Dong-A Ilbo reported that Mirae Asset Securities said its board had resolved to acquire 100% of Sanko and that a share purchase agreement had been signed. According to the report, Mirae plans to put about 100.6 billion won into its US subsidiary, Mirae Asset Security Holdings. Of that, 47.6 billion won is for the Sanko shares and the rest for expanding business in Japan. [ 9 ]
The Nikkei put the price at about 5 billion yen, which outlets converted to 42 billion or 42.5 billion won. Sanko, which specialises in proprietary trading with its own capital, had net assets of about 4.6 billion yen and net profit of 48 million yen for the year to March 2026. Yonhap and Kyunghyang say the profit figure includes retail business, while Seoul Economic Daily and Dong-A Ilbo say Sanko passed its retail clients to another group firm in May. [ 2 , 4 , 5 , 7 , 9 ]
Outlets said the central aim is the licence. The deal gives Mirae the Japanese Type I financial instruments business registration needed to trade and underwrite stocks and bonds. Seoul Economic Daily said Mirae will convert a general company it earlier set up in Tokyo into a local securities firm, and that it plans to use its MAPS mobile trading platform for retail business, which some observers say could begin as early as next year. Mirae said it will pursue retail business after completing legal procedures and system preparation. [ 3 , 4 , 5 , 7 , 9 ]
Mirae and Okasan also plan to discuss selling ETFs run by Mirae's US asset manager Global X to Okasan customers. Yonhap and Kyunghyang, citing Nikkei, said Mirae aims to finish the acquisition within fiscal 2026, and Kyunghyang said Nikkei expects Sanko's proprietary-trading staff to be retained and the unit to grow. [ 2 , 4 , 5 , 7 , 9 ]
Nikkei described the deal as part of a trend of overseas firms entering Japan because of its buoyant stock market, and Kyunghyang said it expects more such deals by small brokers. Yonhap and Kyunghyang noted that Daewoo Securities, one of Mirae's predecessors, and Samsung Securities entered and then withdrew from Japan. Asia Economy and Yonhap said that chairman Park Hyun-joo, in a lecture on 27 October, had previewed the Japanese broker deal, with Asia Economy quoting him as saying it would be completed soon and Yonhap saying he announced it would be revealed on 29 October. [ 2 , 3 , 4 , 7 ]
Why it matters
The deal gives Mirae Asset a Japanese securities licence and a base for Japanese stock dealing, with retail business possible later. Nikkei, as cited by Korean outlets, described it as part of a wider move by foreign firms into Japan's market.
Key facts
- Mirae Asset Securities is acquiring Sanko Securities, a unit of Okasan Securities Group, through a US intermediate holding company. [ 2 , 3 , 4 , 5 , 7 ]
- Nikkei reported a price of about 5 billion yen, which Korean outlets converted to 42 to 42.5 billion won. [ 2 , 3 , 4 , 5 , 7 ]
- Sanko Securities is a proprietary-trading broker with net assets of about 4.6 billion yen and net profit of 48 million yen for the year to March 2026. [ 2 , 4 , 7 , 9 ]
- The acquisition gives Mirae the Japanese Type I financial instruments business registration needed to trade and underwrite stocks and bonds. [ 3 , 4 , 5 , 7 , 9 ]
- Mirae Asset Securities said on 29 October that its board approved the purchase of 100% of Sanko and that a share purchase agreement was signed. [ 9 ]
- The two sides will discuss selling ETFs run by Mirae's US unit Global X to Okasan customers. [ 2 , 4 , 5 , 7 , 9 ]
Confirmed by several sources
- Mirae Asset Securities is acquiring all shares of Sanko Securities from Okasan Securities Group through a US intermediate holding company. [ 2 , 4 , 5 , 7 , 9 ]
- Both companies' boards were to meet on 29 October to approve the deal, according to Nikkei as cited by Korean outlets. [ 3 , 4 , 5 , 7 ]
- The acquisition gives Mirae the Japanese Type I financial instruments business registration. [ 3 , 4 , 5 , 7 , 9 ]
- Sanko Securities specialises in proprietary trading, with net assets of about 4.6 billion yen and net profit of 48 million yen. [ 2 , 4 , 5 , 7 , 9 ]
- Mirae and Okasan plan to discuss selling Global X ETFs to Okasan customers. [ 2 , 4 , 5 , 7 , 9 ]
Still unclear
- Whether this is Mirae's first entry into Japan's market. Yonhap, citing Nikkei, says it is the first entry into Japanese stock trading, and Kyunghyang quotes Nikkei saying it is Mirae's first entry into Japanese proprietary stock trading. Newsis says Mirae is entering Japan 'again'.
- The exact acquisition cost. Outlets cite Nikkei for about 5 billion yen, converted to 42 to 42.5 billion won. Dong-A Ilbo says Mirae will inject about 100.6 billion won into its US subsidiary, of which 47.6 billion won is for the Sanko shares and the rest for Japan expansion.
- When retail business in Japan will start. Seoul Economic Daily says an observer view is that it could begin as early as next year, using Mirae's MAPS trading app. Mirae said it will pursue retail after legal procedures and system preparation, without giving a date.
- Whether the Sanko net profit figure includes retail business. Yonhap and Kyunghyang say the profit includes the retail business, while Seoul Economic Daily and Dong-A Ilbo say Sanko handed its retail clients to another group firm in May.
What local media are saying
Timeline, local time
- Korea Economic Daily publishes an exclusive saying Mirae Group is buying Sanko Securities. [ 1 ]
- Asia Economy, citing Nikkei, says the contract is due to be signed that morning. [ 2 ]
- Yonhap reports Nikkei's account that both boards will meet on 29 October to approve the deal. [ 4 ]
- Kyunghyang Shinmun reports that Mirae Asset Securities has officially announced the acquisition. [ 8 ]
- Dong-A Ilbo reports that Mirae said its board approved the purchase and the share purchase agreement was signed. [ 9 ]