Latest news with #SBIHoldings
Yahoo
2 days ago
- Business
- Yahoo
NTT Docomo enters $2.9bn deal to buy SBI Sumishin Net Bank
Nippon Telegraph and Telephone (NTT) has revealed plans to acquire a majority stake in SBI Sumishin Net Bank through its mobile unit, NTT Docomo, as part of a business and capital tie-up with SBI Holdings. Docomo will purchase nearly two-thirds of the online bank's outstanding shares, including the one-third held by SBI Holdings, for about Y420bn($2.9bn). The remaining one-third is owned by Sumitomo Mitsui Trust Bank (SMTB). SBI Sumishin Net Bank was established in September 2007 as a specialised internet bank joint venture between SBI Holdings and Sumitomo Mitsui Trust Bank (formerly Sumitomo Trust Bank). After the tender offer, DOCOMO will hold 65.81% of the bank's shares, while SMTB will hold 34.19%, with each company having 50% voting rights. The bank will become a consolidated subsidiary of DOCOMO. SBI Sumishin Net Bank expects the tie-up to bring significant benefits, including growth in customer accounts and deposits, presence in the mortgage market through DOCOMO's network, and expansion in the Banking-as-a-Service (BaaS) sector. At a press conference, NTT Docomo president Yoshiaki Maeda described SBI Sumishin as 'a bank with high-level digital technology and a stable business foundation.' He said the company aims to 'provide more convenient and cost-effective financial services', marking its foray into the Banking space. The deal is also expected to support NTT Docomo's efforts to grow its non-telecommunications business and expand its digital economy built around the 'd Point' reward programme. Meanwhile, in January this year, SBI Holdings reportedly agreed to purchase an over 70% stake in Solaris, a German fintech company. "NTT Docomo enters $2.9bn deal to buy SBI Sumishin Net Bank " was originally created and published by Retail Banker International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
3 days ago
- Business
NTT Docomo to Acquire SBI Sumishin Net Bank
News from Japan Economy Technology May 29, 2025 20:50 (JST) Tokyo, May 29 (Jiji Press)--Nippon Telegraph and Telephone Corp. and online financial group SBI Holdings Inc. on Thursday announced their business and capital tie-up and a plan for NTT Docomo Inc., NTT's mobile phone unit, to acquire SBI Sumishin Net Bank, in which SBI Holdings has a stake. NTT will take a roughly 8 pct stake in SBI Holdings for about 110.8 billion yen by underwriting new shares to be issued through a third-party allotment scheme. NTT Docomo plans to acquire nearly two-thirds of all outstanding shares in the online bank, including the one-third stake held by SBI Holdings, for about 420 billion yen. Another one-third stake is owned by Sumitomo Mitsui Trust Bank. At a press conference on the day, NTT Docomo President Yoshiaki Maeda described SBI Sumishin as "a bank with high-level digital technology and a stable business foundation." Maeda noted that his company will use its foray into the banking business as an opportunity to "aim to provide more convenient and cost-effective financial services." NTT Docomo hopes that bringing the online bank under its wing will help it grow its non-telecommunications operations while expanding its economic bloc based on its "d Point" reward point program. [Copyright The Jiji Press, Ltd.] Jiji Press
Business Times
3 days ago
- Business
- Business Times
NTT Docomo to buy SBI's online bank for 420 billion yen in cut-throat market
[TOKYO] NTT Docomo is buying SBI Holdings' online bank in a 420 billion yen (S$3.7 billion) deal to shore up the Japanese mobile carrier's financial offerings in a hyper-competitive market. Nippon Telegraph and Telephone's mobile unit will launch a tender offer for SBI Sumishin Net Bank, offering 4,900 yen a share – a 49 per cent premium to the online bank's closing price on May 28. At the conclusion of the deal, NTT Docomo aims to own 65.81 per cent of the online bank, which will delist. Sumitomo Mitsui Banking Corp will continue to hold 34.19 per cent of SBI Sumishin, the companies said in a statement on Thursday (May 29). Shares of SBI Sumishin surged by a record 21.3 per cent after local outlets including the Nikkei reported the news earlier. NTT Docomo's stock price rose 0.6 per cent, while SBI Holdings gained 7.8 per cent. The move is part of a capital alliance between the state-backed telecom group and SBI Holdings, where NTT Docomo will invest 110 billion yen in the venture capital fund operator for a 8.25 per cent stake. NTT Docomo and SBI Holdings will co-develop new services from asset management to insurance, while NTT Data Group will provide support for SBI Holdings' financial services, executives said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up NTT Docomo, which has close to half of Japan's mobile phone market, has been slow to bolster its financial asset offerings and services compared with its rivals. That is as nimbler competitors have gradually eaten into its dominant share. Japan's third-largest carrier SoftBank made the country's biggest payments app PayPay a subsidiary in 2022, and recently announced a three-way partnership with Sumitomo Mitsui Banking's credit card operations. No 2 mobile provider KDDI has its own financial unit. Online shopping mall operator Rakuten Group has started a mobile unit, seeking to expand the reach of its lucrative financial arms via the telecom business. The acquisition targets existing NTT Docomo customers rather than attract new ones, and is a defensive move to prevent cancellations, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. If the carrier can expand into areas like investment trusts, it may create additional revenue, he added. BLOOMBERG
Business Times
3 days ago
- Business
- Business Times
NTT Docomo to buy SBI's net bank for 420 billion yen in cut-throat market
[TOKYO] NTT Docomo is buying SBI Holdings' online bank in a 420 billion yen (S$3.7 billion) deal to shore up the Japanese mobile carrier's financial offerings in a hyper-competitive market. Nippon Telegraph and Telephone's mobile unit will launch a tender offer for SBI Sumishin Net Bank, offering 4,900 yen a share – a 49 per cent premium to the online bank's closing price on May 28. At the conclusion of the deal, NTT Docomo aims to own 65.81 per cent of the online bank, which will delist. Sumitomo Mitsui Banking Corp will continue to hold 34.19 per cent of SBI Sumishin, the companies said in a statement on Thursday (May 29). Shares of SBI Sumishin surged by a record 21.3 per cent after local outlets including the Nikkei reported the news earlier. NTT Docomo's stock price rose 0.6 per cent, while SBI Holdings gained 7.8 per cent. The move is part of a capital alliance between the state-backed telecom group and SBI Holdings, where NTT Docomo will invest 110 billion yen in the venture capital fund operator for a 8.25 per cent stake. NTT Docomo and SBI Holdings will co-develop new services from asset management to insurance, while NTT Data Group will provide support for SBI Holdings' financial services, executives said. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up NTT Docomo, which has close to half of Japan's mobile phone market, has been slow to bolster its financial asset offerings and services compared with its rivals. That is as nimbler competitors have gradually eaten into its dominant share. Japan's third-largest carrier SoftBank made the country's biggest payments app PayPay a subsidiary in 2022, and recently announced a three-way partnership with Sumitomo Mitsui Banking's credit card operations. No 2 mobile provider KDDI has its own financial unit. Online shopping mall operator Rakuten Group has started a mobile unit, seeking to expand the reach of its lucrative financial arms via the telecom business. The acquisition targets existing NTT Docomo customers rather than attract new ones, and is a defensive move to prevent cancellations, said Naoki Fujiwara, senior fund manager at Shinkin Asset Management. If the carrier can expand into areas like investment trusts, it may create additional revenue, he added. BLOOMBERG
Reuters
3 days ago
- Business
- Reuters
Japan's NTT takes 8.91% stake in SBI Holdings under capital alliance deal
TOKYO, May 29 (Reuters) - Japan's Nippon Telegraph and Telephone (9432.T), opens new tab will invest about 110 billion yen ($755.49 million) in SBI Holdings (8473.T), opens new tab to acquire an 8.91% stake, as the two companies aim to integrate their digital technology and financial services. Under the deal, SBI said it will issue 27 million new shares to Japan's largest telecommunications firm through a third-party share allotment. ($1 = 145.6000 yen)
