Mirae Asset buys Japanese brokerage to break into retail market

Mirae Asset Securities is set to enter Japan's retail brokerage market through the acquisition of Sanko Securities, a Japanese brokerage owned by Okasan Securities Group, as the Korean financial firm expands its overseas business. Mirae Asset Securities said Thursday its board had approved the acquisition of Sanko through its US subsidiary, Mirae Asset Securities Holdings, for an estimated 47.6 billion won ($35.6 million). The company will inject 12 billion yen ($76.1 million) into the US subsid

Source: The Korea Herald