SBI will issue new shares worth 79.65 billion yen ($586.70 million) to Japan's second-largest lender by assets in a deal aimed at beefing up their brokerage businesses, SBI and SMFG said in separate statements.

($1 = 135.7600 yen)

(Reporting by Makiko Yamazaki; Editing by Muralikumar Anantharaman)