SBI Holdings to acquire Kyobo Life Insurance shares

SBI Holdings (TSE:8473) announced today its decision to acquire additional shares of Kyobo Life Insurance Co., Ltd., a leading South Korean insurer, and transform it into an equity-method affiliate. The acquisition, approved by SBI's board on April 17, 2025, will increase SBI's stake to 20.4%, representing 20,500,000 shares. The acquisition price remains undisclosed due to confidentiality agreements. The move aims to deepen the existing partnership between SBI and Kyobo Life Insurance and expand SBI's presence in the insurance sector. The effective date of the acquisition is contingent on approvals from the Korean Fair Trade Commission and the Financial Supervisory Service. SBI Holdings anticipates a minor impact on its consolidated financial results for the fiscal year ending March 2026, with the effect of potential goodwill also undetermined at this time. Kyobo Life Insurance, established in August 1958, has a capital of KRW 1,025 billion and total assets of KRW 138.7235 trillion as of December 2024.