Sumitomo Mitsui Invests 40 Billion Yen in Capital Tie-Up with US Securities Jeffreys

Sumitomo Mitsui Financial Group (FG) announced on the 14th that it will form a capital and business alliance with Jeffreys Financial Group, a US securities company. Acquire about 5% of the issued shares. Calculated based on the latest closing price, it will be 42 billion yen. Strengthen securities business in the United States, where corporate M & A (merger / acquisition) and financing are active. We will also focus on bridging between Japanese companies and overseas companies to create a system for earning money globally.

Both companies will announce soon. Sumitomo Mitsui Banking Corporation, a subsidiary of Sumitomo Mitsui FG, takes shares from the market …

Sumitomo Mitsui Financial Group announced on the 14th that it is considering a capital and business alliance with US securities company Jeffreys Financial Group. If a tie-up is made, it will be announced promptly.

The electronic version of the Nihon Keizai Shimbun was released on the same day after it was reported that Sumitomo Mitsui Banking Corporation, a subsidiary of Sumitomo Mitsui FG, would acquire about 5% of the issued shares of Jeffreys.

According to Nikkei, the acquisition price calculated based on the latest closing price will be 42 billion yen. He also said that he would build a medium- to long-term cooperation system with Jeffreys with a view to future grouping with the aim of strengthening the securities business in the United States, where corporate mergers and acquisitions (M & A) and financing are active.

Sumitomo Mitsui FG has been accelerating overseas expansion in recent years, including investment in financial institutions in Asia. On the 6th of this month, it announced that it would acquire India’s non-bank Fullerton India Credit Company for $ 2 billion (about 220 billion yen). In April, it announced that it would invest 49% in FE Credit, a non-bank in Vietnam.