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5 days ago
- Business
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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.
6 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
7 days ago
- Business
NTT, SBI Announce Biz, Capital Tie-Up
News from Japan Economy Technology May 29, 2025 19:36 (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. Another one-third stake is owned by Sumitomo Mitsui Trust Bank. 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. As the mobile phone industry struggles with declining telecom fee income, NTT Docomo has been exploring ways to enter the banking business, in a bid to catch up with its three major rivals, who are using their banking units and reward point programs to expand their economic blocs. [Copyright The Jiji Press, Ltd.] Jiji Press
