South Korea’s Mirae Asset Securities plans to acquire Japan’s Sanko Securities for $35.5 million

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Mirae Asset Securities’ board approved a plan to acquire Sanko Securities, a Tokyo-based trading company under Okasan Securities Group, for approximately 47.6 billion won (about $35.5 million). The deal still requires regulatory approval and the consent of Sanko’s board, with the final price to be determined at closing. Mirae plans to expand its financial product sales and eventually operate a full-service retail brokerage business in Japan.