Sumitomo Mitsui Financial Group Takes 14% Stake in SBI R3 Japan (and SBI now owns 51% SBI Japan)

[Trisky]

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<Translated from Japanese> We would like to inform you that we have signed an agreement to transfer the group to the "SMBC Group") and the transfer procedure has been completed. With the transfer, the shareholder composition of the Company will be SBI Holdings (51%), R3 (35%) and Sumitomo Mitsui Financial Group (14%).</translate>

http://www.sbigroup.co.jp/news/2020/0817_12070.html

 

 

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Following the transfer, SBI Holdings now has a 51 per cent in the joint venture, R3 retains a 35 per cent stake and Sumitomo Mitsui Financial Group now has 14 per cent.

Investment to further SBI R3 Japan reach
In the statement published today, SBI highlighted that the investment by the Sumitomo Mitsui Financial Group will allow the joint venture to promote the use of distributed ledger technology platforms in various fields of business.

https://www.financemagnates.com/cryptocurrency/news/sumitomo-mitsui-financial-group-takes-14-stake-in-sbi-r3-japan/