SBI Sumishin Shares Indicated Sharply Higher After NTT Says Unit Considering Acquisition

Dow Jones

May 29, 2025

By Kosaku Narioka

SBI Sumishin Net Bank shares were indicated sharply higher after Nippon Telegraph & Telephone said its mobile-carrier subsidiary was considering acquiring the internet-banking services provider.

SBI Sumishin shares were indicated 21% higher at their limit high of 3,985 yen, equivalent to $27.51, on Thursday in Tokyo. No shares changed hands as buy orders overwhelmed sell orders.

Japanese mobile carriers have been expanding their financial-services businesses as consumers increasingly use smartphones for everything from grocery shopping to online banking.

Japanese telecom giant NTT said Thursday that the board of wholly owned mobile unit NTT Docomo is scheduled to discuss a plan to acquire SBI Sumishin later in the day.

SBI Sumishin said its board is set to discuss a potential tender offer by NTT Docomo.

SBI Holdings, which held about a third of SBI Sumishin as of the end of September, said its board plans to discuss a potential sale to NTT Docomo of its stake in the online banking affiliate.

NTT, SBI Sumishin and SBI Holdings made comments following local media reports that NTT Docomo plans to acquire SBI Sumishin.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

May 28, 2025 21:46 ET (01:46 GMT)

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