SBI, Simplex Holdings form JV
SBI Holdings, Inc. and SBI SECURITES Co., Ltd. announce that they concluded a capital and business agreement with Simplex Holdings, Inc.
Based on the agreement, SBI will acquire 3,040,300 shares of Simplex Holdings’ common stock (5.4% of the total number of shares issued and outstanding as of December 31, 2022) and establish a joint venture company by the end of February 2023.
The SBI group has been conducting its business to provide customer-oriented products and services based on the “Customer-centric Principle.” In addition, SBI SECURITIES is striving to achieve the “Neo-securities Initiative” by the first half of the fiscal year ending March 31, 2024, which will eliminate online domestic stock trading commissions and certain other fees currently charged to investors and is strengthening its systems to accommodate the expected increase in transactions that will accompany this change.
On the other hand, Simplex Holdings has developed its business as a technology partner of leading financial institutions in Japan. Recently, Simplex has been leveraging the wealth of expertise it has accumulated in the financial domain to develop solutions in areas other than financial institutions. Since its founding, it has worked to create added value, and provide support to public institutions, financial institutions, and leading companies in various industries in their promotion of digital transformation.
The SBI group and Simplex Holdings have built a relationship of mutual trust through Simplex’s support for the development and operation of systems for the SBI Group’s securities-related businesses, primarily SBI SECURITIES.
SBI and Simplex Holdings have entered into the Capital and Business Alliance Agreement in order to further strengthen system development and operational structure of the Company group, centered on SBI SECURITIES, and to achieve this goal by combining the resources and expertise of both groups as one team, beyond a mere outsourcing and contracting relationship.