Japan Post Bank has decided to acquire roughly 20% of Matsui Securities, an online brokerage, according to 日本経済新聞. The move is intended to let users of the bank's approximately 120 million deposit accounts buy and sell shares through a securities partnership, the report said. The bank aims to encourage a shift from saving toward investment.
According to 日本経済新聞, the shares would be purchased from a company tied to Matsui Securities' founding family, which would make Japan Post Bank the largest single shareholder. At the previous day's closing price, the purchase would be worth more than 50 billion yen on a simple calculation, the report said. The bank also plans to send one director to the brokerage.
Matsui Securities said in a separate statement that it is true the firm is considering a tie-up with Japan Post Bank, including talks about an equity investment, according to 時事通信. The confirmation followed earlier media reports on the plan. Trading in Matsui Securities shares rose as much as 6% at one point on the news, 株探 reported.
The reported deal would connect a vast deposit base with an established online trading platform, a combination that could widen access to equity markets for retail savers in Japan.
Watch for a formal announcement, which 日本経済新聞 said could come as early as early November, and for details on the final stake size and price.
