Japan’s SBI Holdings, Fukushima Bank to form capital, strategic tie-up

Kabukicho, Tokyo, Japan. Photo: Fabrizio Chiagano

Japanese internet banking giant SBI Holdings Inc and Fukushima Bank Ltd will form a capital and strategic tieup, with SBI taking a 17.91% stake in the regional lender, the companies said on Monday.

Fukushima Bank will issue new shares to SBI for 222 yen each for a total investment of 1.11 billion yen ($10.17 million), making it the biggest shareholder in the lender.

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