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July 1, 2004, 3:46 a.m. EDT

Japan Softbank unit to buy brokerage

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By Osamu Tsukimori, CBS MarketWatch.com

TOKYO (CBS.MW) - Japan's Softbank Investment said Thursday it has agreed to buy midsize brokerage Ace Securities, a unit of the Nomura group, for about $50 million in a friendly takeover bid.

The venture capital arm of Internet investor Softbank Corp. /zigman2/quotes/207303954/delayed JP:9984 +1.39% /zigman2/quotes/202815238/delayed SFTBF +14.30% said that Nomura Land & Building and Nomura Research Institute /zigman2/quotes/202950700/delayed JP:4307 +1.53% agreed to sell 37.89 percent of Ace shares.

Softbank Investment /zigman2/quotes/200067066/delayed JP:8473 -4.02% aimed to acquire 25 million shares, or 67.9 percent of Ace, for 215 yen a share, it said in a statement. The total cost is estimated at 5.38 billion yen ($49.7 million).

Softbank Investment said the acquisition of the Osaka-based Ace Securities will help it strengthen its brokerage business in western Japan.

Softbank Investment, which runs Japan's biggest online brokerage E-trade Securities, said last month it will buy a majority stake in South Korea's online broker E-Trade Korea for $19 million, a joint venture that is 10 percent owned by U.S.-based E-Trade Financial /zigman2/quotes/210213433/composite ET +3.66% .

Last year, the venture capital company also bought World Nichiei Frontier Securities, a Nomura Securities affiliate /zigman2/quotes/206251373/delayed JP:8604 -0.17% /zigman2/quotes/207276383/composite NMR +3.05% .

/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,110.00
+70.00 +1.39%
Volume: 25.96M
May 16, 2022 3:00p
P/E Ratio
4.63
Dividend Yield
0.00%
Market Cap
¥8636.63 billion
Rev. per Employee
¥181.04M
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/zigman2/quotes/202815238/delayed
US : U.S.: OTC
$ 39.40
+4.93 +14.30%
Volume: 18,334
May 13, 2022 3:38p
P/E Ratio
3.80
Dividend Yield
N/A
Market Cap
$66.76 billion
Rev. per Employee
$1.67M
loading...
/zigman2/quotes/202950700/delayed
JP : Japan: Tokyo
¥ 3,310.00
+50.00 +1.53%
Volume: 1.67M
May 16, 2022 3:00p
P/E Ratio
27.47
Dividend Yield
1.33%
Market Cap
¥1918.80 billion
Rev. per Employee
¥45.54M
loading...
/zigman2/quotes/200067066/delayed
JP : Japan: Tokyo
¥ 2,675.00
-112.00 -4.02%
Volume: 4.16M
May 16, 2022 3:00p
P/E Ratio
1.96
Dividend Yield
4.86%
Market Cap
¥683.38 billion
Rev. per Employee
¥66.53M
loading...
/zigman2/quotes/210213433/composite
US : U.S.: NYSE
$ 11.05
+0.39 +3.66%
Volume: 18.99M
May 13, 2022 4:00p
P/E Ratio
10.43
Dividend Yield
7.24%
Market Cap
$34.10 billion
Rev. per Employee
$5.65M
loading...
/zigman2/quotes/206251373/delayed
JP : Japan: Tokyo
¥ 473.90
-0.80 -0.17%
Volume: 11.38M
May 16, 2022 3:00p
P/E Ratio
10.40
Dividend Yield
4.64%
Market Cap
¥1431.59 billion
Rev. per Employee
¥60.37M
loading...
/zigman2/quotes/207276383/composite
US : U.S.: NYSE
$ 3.72
+0.11 +3.05%
Volume: 1.11M
May 13, 2022 4:10p
P/E Ratio
9.20
Dividend Yield
4.89%
Market Cap
$11.07 billion
Rev. per Employee
$537,267
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Osamu Tsukimori is a reporter for CBS MarketWatch.com based in Tokyo.

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