FilingReader Intelligence

NTT to acquire SBI Sumishin Net Bank in $1.5bn deal

May 29, 2025 at 12:00 PM UTC•By FilingReader AI

Nippon Telegraph and Telephone (NTT) is set to acquire SBI Sumishin Net Bank, a move that will see the bank become a consolidated subsidiary with NTT owning a 65.81% stake and Sumitomo Mitsui Trust Bank retaining 34.19%. The total acquisition costs JPY 233.6 billion.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

Primary Source Document

Notice regarding commencement of tender offer for SBI Sumishin Net Bank (Securities Code: 7163) by our subsidiary (NTT Docomo) and conclusion of capital and business alliance agreementMay 29, 2025 at 06:45 AM UTC

Supplementary Source Documents

Notice Concerning the Conclusion of Capital and Business Alliance Agreement with SBI Holdings, Inc.May 29, 2025 at 06:45 AM UTC

NOTICE REGARDING THE EXECUTION OF A CAPITAL AND BUSINESS ALLIANCE AGREEMENT WITH SBI HOLDINGS, INC.May 29, 2025 at 10:00 AM UTC

Nippon Telegraph And Telephone Corporation

TSE:9432•Tokyo Stock Exchange

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