By Reuters | Updated: 4 October 2023
TOKYO, Oct 4 (Reuters) – Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group (8698.T) on Wednesday to build a new financial services business centred on managing its customers’ assets.
Monex’s brokerage unit Monex Inc will form an intermediate holding company in which Docomo will take a 49% stake and make its consolidated subsidiary, Docomo said.
Docomo will buy shares of the intermediate holding company from Monex Group for 46.56 billion yen ($312.00 million) and subscribe to a third-party allotment of shares worth 2 billion yen, Monex said.
($1 = 149.2300 yen)
© Thomson Reuters 2023
