NTT Docomo forms capital tie-up with Monex to strengthen financial business (updated)
04/10/2023 07:50
(Recasts with NTT Docomo announcement)
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)
(Reporting by Satoshi Sugiyama
Editing by Chang-Ran Kim)
((Satoshi.Sugiyama@thomsonreuters.com;))