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MarketScreener Homepage  >  Equities  >  Tokyo  >  KDDI Corp    9433   JP3496400007

KDDI CORP

(9433)
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KDDI to raise stake in brokerage kabu.com amid fintech push

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02/12/2019 | 06:03am EDT

KDDI Corp. said Tuesday it will increase its stake in online brokerage kabu.com Securities Co. to 49 percent.

The tender offer will be carried out in late April at the earliest, as KDDI, Japan's second-largest mobile carrier, seeks new revenue sources amid fierce competition in a saturated market.

KDDI President Makoto Takahashi said the increased stake would be a natural fit with the company's core telecommunications business, telling a press conference that "smartphones will become crucial to making financial transactions" amid the spread of fintech, the combination of financial services with information technology.

Mitsubishi UFJ Financial Group Inc., which currently owns about 59 percent of kabu.com, will lower its stake to 51 percent. The brokerage is expected to be delisted from the First Section of the Tokyo Stock Exchange.

KDDI, the operator of the "au" mobile phone service, also said it will turn affiliate Jibun Bank Corp., in which it currently holds an even-split ownership with MUFG Bank, into a subsidiary by boosting its stake to 63.78 percent in a 25 billion yen ($226 million) new share issuance.

Jibun Bank and four other KDDI subsidiaries will be transferred to KDDI's new intermediate financial holding company, au Financial Holdings Corp., in April.

==Kyodo

© Kyodo News International, Inc., source Newswire

Stocks mentioned in the article
ChangeLast1st jan.
KABU.COM SECURITIES CO LTD 0.00% 557 End-of-day quote.50.95%
KDDI CORP -0.56% 2475 End-of-day quote.-4.62%
MITSUBISHI UFJ FINANCIAL GROUP INC -1.39% 552 End-of-day quote.4.57%
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Financials (JPY)
Sales 2019 5 108 B
EBIT 2019 -
Net income 2019 612 B
Debt 2019 874 B
Yield 2019 4,03%
P/E ratio 2019 9,76
P/E ratio 2020 9,71
EV / Sales 2019 1,40x
EV / Sales 2020 1,37x
Capitalization 6 302 B
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Mean consensus OUTPERFORM
Number of Analysts 19
Average target price 3 163  JPY
Spread / Average Target 27%
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Managers
NameTitle
Makoto Takahashi President & Representative Director
Takashi Tanaka Chairman
Takashi Shoji Director & Head-Global Operations
Yoshiaki Uchida Representative Director & Senior GM-Technology
Koji Sumiyoshi General Manager-Information Systems
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