Mirae Asset Enters Japan’s Brokerage Market with Acquisition of Sanko Securities
Mirae Asset Securities has signed an agreement to acquire a 100% stake in Tokyo-based Sanko Securities from Okasan Securities Group, securing direct operational access to Japan’s equities and capital markets. The transaction marks the first time a South Korean brokerage has obtained direct trading qualifications to conduct full-scale financial operations in Japan.
The share transfer agreement was formalized on October 29, 2026, following board approvals by both Mirae Asset Securities and Okasan Securities Group. The transaction will be executed through Mirae Asset’s intermediate holding entity, New York–based Mirae Asset Securities Holdings (USA), with the closing scheduled for 15 business days after the satisfaction or waiver of all contractual closing conditions, targeting completion within fiscal year 2026. The deal follows public remarks by Mirae Asset Group Chairman Park Hyeon-joo on October 27 outlining plans for Japanese market acquisitions.
Market estimates place the total purchase price at approximately ¥5 billion ($3.12 million / 4.25 billion won), valuing the firm above its net asset base. Established in October 1953 with ¥300 million in capital, Sanko Securities operates primarily as a proprietary trading firm. For the fiscal year ended March 2026, Sanko reported net assets of ¥4.6 billion ($2.87 million / 3.91 billion won) and a net profit of ¥48 million ($293,000 / 400 million won).
The strategic core of the acquisition is Sanko’s regulatory registration as a "Type I Financial Instruments Business Operator" under Japanese financial law. The license permits Mirae Asset to directly trade, broker, and underwrite equities and debt instruments, moving beyond passive foreign investment into an authorized operating platform. Mirae Asset plans to leverage this framework to expand into domestic retail brokerage and investment banking.
The acquisition also establishes a broader strategic partnership between Mirae Asset and Okasan Securities Group. Under the arrangement, the firms plan to explore distribution channels for exchange-traded funds (ETFs) managed by Mirae Asset’s U.S. subsidiary Global X to Okasan’s client network, while collaborating on overseas investment products and product line enhancements. For Okasan, the divestment aligns with a medium-term strategy to optimize its business portfolio and reallocate capital toward core wealth management and platform business units; the financial impact on Okasan’s consolidated earnings is projected to be minimal.
The cross-border move comes amid heightened international interest driven by the sustained performance of Japan’s stock market. Mirae Asset's entry follows earlier Japanese ventures by South Korean peers, including Daewoo Securities and Samsung Securities, both of which subsequently withdrew from the market.
Norbert Gehrke
