Sumitomo Mitsui Is Said to Take 10% Stake in SBI Holdings

Sumitomo Mitsui Financial Group Inc. is preparing to take a stake in SBI Holdings Inc., according to a person familiar with the matter, marking a major alliance between two Japanese financial giants.

Japan’s second-largest banking group plans to hold as much as 10% of SBI, a stake valued at about 60 billion yen ($443 million), the person said, asking not to be identified because the discussions are private.

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