SMFG, Jefferies form Japanese equities joint venture SMBC Nikko Jefferies Securities

Jefferies Financial Group Inc.

Jefferies Financial Group Inc.

JEF

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  • Sumitomo Mitsui Financial Group plans to integrate its wholesale Japanese equities business with Jefferies through a Japan-based joint venture, SMBC Nikko Jefferies Securities.
  • Venture scheduled to start operations in January 2027, subject to regulatory approvals and completion of required procedures.
  • Ownership split set at 60%:40% in voting rights, with economic ownership at 70%:30% in favor of SMBC Nikko Securities Holdings.
  • Combination targets globally integrated Japan equity sales and trading plus research, with an expanded push into equity capital markets services.
  • Group also plans intermediate holding company structure around October 2026 to oversee SMBC Nikko and joint venture under SMBC Nikko Securities Holdings.


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