Mirae Asset Securities said it is officially reviewing the acquisition of a local Japanese securities firm. It drew a line, however, noting that a specific acquisition target has not been decided and that it is not a matter being pursued jointly with Toss Securities.
According to the Financial Supervisory Service's electronic disclosure system on the 27th, Mirae Asset Securities said in a disclosure titled "Explanation of rumors or reports" that it is "reviewing the acquisition of a Japanese securities firm independently of Toss Securities."
Earlier, one outlet reported that Mirae Asset Securities and Toss Securities are each reviewing several local Japanese securities firms as acquisition candidates and examining business viability. It said Mirae Asset Securities is reviewing entry into the Japanese market by leveraging its wealth management (WM) capabilities built in Korea and its experience in the global exchange-traded fund (ETF) business, while Toss Securities is reviewing entry by utilizing its mobile platform competitiveness.
Mirae Asset Securities acknowledged that it is reviewing the acquisition of a Japanese securities firm but said it is still in the early stages. A Mirae Asset Securities official said, "It is true that we have begun the review stage for acquiring a Japanese securities firm, but a specific acquisition target has not been decided, nor has a shortlist been narrowed," adding, "It is also unrelated to Toss Securities."
If it acquires a local securities firm, Mirae Asset Securities is reviewing plans to expand its business in Japan by using its WM services, which have secured competitiveness in Korea, and its know-how in the global ETF business.
Recently, Japanese stocks have seen continued inflows of funds from global investors, spurred by improved corporate governance and expanded shareholder returns. In the first half of this year, foreigners' net purchases of Japanese stocks totaled 11 trillion yen (about 96 trillion won), a record high.
Mirae Asset Securities said, "We will re-disclose when the relevant matters are finalized or within one month."