Japan’s KDDI in talks to invest $911.9 mln in Kabu.com Securities

01/24/2019 7:03:00 AM (GMT)

Japanese telecommunications company KDDI Corp. is in discussions to infuse up to 100 billion yen ($911.9 million) in online securities company Kabu.com Securities.

As part of the injection, KDDI will acquire 50 percent stake in Kabu.com Securities, a unit of Mitsubishi UFJ Financial Group (MUFG).

KDDI said that the transaction will be completed as soon as February.

Further, the company is also nearing to secure a stake in Jibun Bank, a joint venture with MUFG’s banking unit.

KDDI Corp.

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