South Korean financial heavyweights are reportedly exploring strategic acquisitions in Japan's brokerage sector, according to sources familiar with the matter.

South Korea's Mirae Asset Group and Toss Securities are each evaluating three to four Japanese brokerage firms as potential takeover targets, aiming to secure local financial licenses and operational platforms to tap into the region's growing retail investment demand.

Mirae Asset is said to be planning wealth management services for Japanese investors, with a focus on promoting global exchange-traded funds (ETFs). Meanwhile, Toss is expected to leverage its mobile platform and user-friendly interface to expand into Japan's retail brokerage market.

The report, citing unnamed sources from Japan's financial industry, did not disclose the specific names of the potential acquisition targets. The move underscores the growing appetite among South Korean financial institutions to expand their footprint in Japan's evolving investment landscape.