Mirae Asset Seeks to Buy Japan’s Sanko Securities for 5 Billion Yen, Targeting ETF and Wealth Management Expansion

Mirae Asset Group is seeking to enter Japan’s brokerage market through the acquisition of Sanko Securities. It plans to begin with proprietary trading and then expand sales of global exchange-traded funds and wealth management services.

The Korea Economic Daily reported on October 29 that Mirae Asset Securities and Okasan Securities Group were set to hold board meetings later that day to approve and announce the purchase and sale of Sanko Securities. Mirae Asset plans to acquire the entire stake through its U.S. intermediate holding company for about 5 billion yen, with the deal targeted for completion by March 2027.

Sanko Securities, headquartered in Tokyo, is a wholly owned subsidiary of Okasan Securities Group. After transferring retail clients to another affiliate in May, it has focused on proprietary trading in stocks and bonds using its own capital. Including its retail business, the company posted net income of 48 million yen for the fiscal year ended March 2026 and had net assets of about 4.6 billion yen.

The acquisition would mark Mirae Asset’s first entry into Japan’s equity proprietary trading business. It plans to retain existing staff while expanding the organization and aims to secure registration as a Type I Financial Instruments Business Operator, which is required for stock and bond trading and underwriting.

Mirae Asset is also pursuing cooperation with Okasan on product sales. The two sides are discussing a plan to offer Global X ETFs, from Mirae Asset affiliate Global X, to Okasan clients. The sales network could later be expanded to regional brokerages that use Okasan’s platform.

In Japan, policymakers have continued pushing household funds from deposits into stocks and investment trusts since the expanded tax-free Nippon Individual Savings Account, or NISA, was introduced in 2024. Mirae Asset had reviewed deal terms and business viability at three to four local brokerages before moving ahead with the Sanko Securities acquisition.