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Shizuoka Bank Acquires 56 Million Shares in Japan's Monex

Shizuoka Bank, a Japanese financial services provider, today announced that it would purchase 56,223,300 shares of common stock in Monex Group, the group behind brands like Japan's Forex broker Monex Inc. The bank will acquire the stock from ORIX, the largest shareholder in Monex, on April 7, 2014, thus overtaking the role of the biggest shareholder in Monex. Following the transaction, Shizuoka will have a 19.54% stake in the Forex group, with an official announcement stating that this stake will likely increase to slightly more than 20% in the close future.

 
We can, of course, speculate for a long time over the motives of ORIX and Shizuoka for the transaction. It could be that ORIX is disposing of the shares due to the disappointing performance of MONEX over the past months. Revenues have fallen for several months, with February 2014 making no exception to the trend. Meanwhile, although the group finally managed to cut its financial expenses in February, the results of the cost-cutting efforts have so far been controversial overall. Of course, the rationale for the deal may be of purely financial nature with ORIX pocketing some cash and getting away with it. 
 
The rationale behind Shizuoka's move, however, is not exhausted with a simple bill. This is suggested by the agreement, or – to be more precise -  a resolution to enter into a capital and business alliance, that the bank and the broker signed today. According to it, the two companies will collaborate in the sphere of online financial services. 
 
Both collaborators are poised to benefit from the deal, with Shizuoka, traditionally focused on banking, now diversifying its business portfolio. Monex is also a winner – it gets a serious partner like that will offer a basis for solid synergies in the future and that will significantly bolster the reputation of the group.
 
This is not the first buying-in by a bank into a Forex broker that we see this year: JP Morgan Chase & Co bought into UK-based CFD trading expert Plus500 in March. 
 
 

About Monex Group Inc.

 
Monex Group Inc is an online securities brokerage providing advanced financial services to individuals and investors. The company is considered a pioneer among Japanese online securities brokers, and its services cover M&A advisory, debt & equity underwriting, asset management focusing on alternative investments, investment education, and other investment banking functions. Monex Group has offices throughout Asia, and the recent acquirement of brokers TradeStation and IBFX opened its way to the US market as well.
TAGS: shizuoka bank  monex  monex inc  monex forex broker  monex japan  japanese forex market  mergers and acquisitions  m&a  forex deal  shizuoka bank  shares acquisition  shareholder  monex shareholder  forex trading  orix 

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