KDDI‘s possible investment in Kabu.com Securities, a subsidiary of Mitsubishi UFJ Financial Group (MUFG), would give it just under a 50 percent stake, the report said without citing sources.
Representatives of KDDI and MUFG said that nothing has been decided.
The deal would be finalised as soon as February with Kabu.com likely to be delisted from the Tokyo Stock Exchange, Nikkei said. The bourse said it had temporarily suspended trading in the shares.
Faced with a mature market, Japan’s big three telcos are looking for alternative revenue streams, with KDDI last year acquiring KidZania indoor theme park operator KCJ Group and taking a stake in price comparison site Kakaku.com.
KDDI is bolstering its fintech services, partnering with Daiwa Securities Group to provide asset management services via smartphones. KDDI is also in talks to raise its stake in Jibun Bank, a joint venture with MUFG’s banking unit, Nikkei reported.