08.30.2024

Cboe to Acquire Minority Stake in Japannext

08.30.2024
Cboe to Acquire Minority Stake in Japannext

Japannext Co., Ltd. (Japannext), a provider of financial services and market solutions focused on operating an alternative market, announced that Cboe Global Markets (Cboe) has agreed with SBI Holdings Inc. (SBI) to acquire a minority equity ownership stake in the company through a purchase of shares from SBI. SBI will transfer to Cboe, one of the world’s leading derivatives and securities market operators, 14.8% ownership interest in Japannext, subject to regulatory approval.

“Cboe, a global trading solution provider and market operator, will become a new shareholder of Japannext. We believe that this will promote innovation in the Japanese capital markets in ways that increase competitiveness, reduce trading costs and provide more choices for investors,” said Masakatsu Yamada, Representative Director and CEO, Japannext Co., Ltd.

“As part of the Memorandum of Understanding (MoU) executed in October 2022, we are pleased to have Cboe participate as a shareholder of Japannext. We recognize that Cboe and our group share many commonalities, such as leading innovation in the financial industry by leveraging cutting-edge technology. We hope to further promote initiatives that will bring new changes to the Japanese financial market and benefit Japanese investors, especially individual investors,” said Yoshitaka Kitao, Representative Director, Chairman, President and CEO, SBI Holdings Inc.

“Japan is one of the world’s largest and most important capital marketplaces and this investment reaffirms Cboe’s strong commitment to Japan. We believe this investment will help us strengthen our relationships within the industry and expand our presence beyond our ownership of Cboe Japan, which we plan to continue to operate independent of Japannext. Importantly, Cboe is committed to meeting the changing dynamics of Japan’s capital markets, and we look forward to working with all market participants to help drive the further evolution of Japan’s markets in ways that create more choice and benefits for investors, ” said Fred Tomczyk, Chief Executive Officer, Cboe Global Markets.

Source: Japannext

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