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NTT Docomo forms capital tie-up with Monex to strengthen financial business

Reuters
·1-min read

TOKYO (Reuters) - Japanese mobile operator NTT Docomo said it formed a capital tie-up with fintech firm Monex Group 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)