Daiwa Securities to acquire an additional 9.1% stake in Aozora Bank from CITY INDEX ELEVENTH for JPY27.9bn.

Daiwa Securities, a Japanese investment bank, agreed to acquire an additional 9.1% stake in Aozora Bank, a commercial bank, from CITY INDEX ELEVENTH, a fund backed by veteran activist investor Yoshiaki Murakami, for JPY27.9bn. Aozora has agreed to the share acquisition as it believes that the share acquisition will further strengthen the capital and business alliance between the Aozora Group and Daiwa Securities Group and will contribute to enhancement of the Aozora Group’s corporate value. In addition, while Daiwa Securities Group’s shareholding ratio of the Bank’s shares will increase, the basic concept of the capital and business alliance remains unchanged, and the Aozora Group and Daiwa Securities Group have mutually confirmed that the collaboration will be promoted by respecting autonomy in management of both parties.