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Tokai Tokyo Financial completes acquisition of Takagi Securities

Tokai Tokyo Financial Holdings Inc. completed its acquisition of Takagi Securities Co. Ltd. for ¥14.33 billion.

The financial group said April 5 that it purchased 53,066,317 shares of Takagi Securities at ¥270 per share. It added that the brokerage will be delisted from the Tokyo Stock Exchange soon.

In February, Tokai Tokyo Financial offered to acquire 58,820,751 shares of Takagi Securities for ¥270 per share, or a total of ¥15.88 billion.

As of April 6, US$1 was equivalent to ¥110.89.