Mirae Asset Securities Co. said Thursday, citing a regulatory filing, that it plans to acquire Sanko Securities Co. through its U.S. affiliate as it seeks to expand its business in Japan's financial sector.
Mirae Asset said its board backed a deal that would give its U.S. unit, Mirae Asset Securities Holdings, full ownership of Sanko. The filing estimates the transaction at 47.6 billion won ($35.6 million); the final value will be determined when the deal is completed.
The filing also describes a planned investment of about 100 billion won in the U.S. unit, with expansion in Japan as its stated purpose.
