Japan's SBI to take majority stake in Okasan Asset Management for $69 million

TOKYO (Reuters) - Japan's SBI Holdings Inc said on Friday that it would take a 51% stake in Okasan Asset Management Co by buying shares in a third-party allotment for 10 billion yen ($69.31 million).

SBI plans to complete the deal on Nov. 30, after which Okasan Asset Management would change its name to SBI Okasan Management Co, it said in a statement.

($1 = 144.2800 yen)

(Reporting by Chang-Ran Kim; editing by Jason Neely)