YamaguchiFinancial Group Inc. will buy an insurance policy retail salescompany through its subsidiary to offer one-stop insurance sales services toits customers.
The company said Sept. 26 that its subsidiary, YM LifePlanning, will buy 100% of Hoken Hiroba Co., which sells a range of insuranceproducts from 32 life and P&C insurance companies.
The transaction will take place Oct. 3. The value of thepurchase was not disclosed.
Several Japanese regional banks have bought insuranceretailers to enhance their noninterest income businesses since the Bank ofJapan imposed the negative interest rate policy in February.