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# Daiwa Securities to top up its Aozora Bank stake through purchase from Murakami Fund
- URL: https://www.fintechobserver.com/daiwa-securities-to-top-up-its-aozora-bank-stake-through-purchase-from-murakami-fund/
- Published: 2024-06-13T04:31:54.000Z
- Updated: 2024-06-13T04:31:54.000Z
- Description: Daiwa Securities, which last week shared that it had obtained approval from the Financial Services Agency (FSA) to become a major…
- Author: Norbert Gehrke
- Tags: #Migrated-1734246964256, #Import 2024-12-15 07:16

Daiwa Securities, which last week shared that it had obtained approval from the Financial Services Agency (FSA) to become a major shareholder of Aozora Bank based on [the agreement reached in May](https://medium.com/tokyo-fintech/aozora-bank-sells-15-to-daiwa-securities-strengthens-capital-position-601afb735b5a?ref=fintechobserver.com), has now announced that it would acquire another \~9% of the voting rights (as of March 31, 2024) from the Murakami Fund, pushing its ownership stake close to 24% once approved.

Daiwa Securities will acquire Aozora Bank’s common shares from Aozora Bank’s shareholders, Ms. Aya Nomura (Murakami’s daughter) and CITY INDEX ELEVENTH, off-market in two phases.

The first phase for 5.12% of the voting rights (as of March 31, 2024) is scheduled to be completed by June 24, 2024, while the second phase for another 4.05% of voting rights (as of March 31, 2024 plus the third-party allotment from the May transaction), will be subject to several conditions, including notification to the Japan Fair Trade Commission and subsequent approval/non-action by the JFTC. After completion of the second phase, Daiwa Securities would own 23.95% of the voting rights of Aozora Bank.

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