NTT Docomo, the mobile arm of Nippon Telegraph and Telephone (NTT), has announced plans to acquire online bank SBI Sumishin Net Bank in a landmark deal valued at approximately US$5.1 billion.
NTT Docomo shared that it will initiate a tender offer for SBI Sumishin shares to take the online bank private for the planned NTT Docomo SBI Sumishin acquisition, the Wall Street Journal reported.
NTT Docomo, along with SoftBank Corp. and KDDI, has been ramping up its financial services offerings as smartphones become the go-to tool for buying groceries to managing bank accounts.
NTT’s mobile arm stated that the NTT Docomo SBI Sumishin acquisition supports its broader ambition to deliver a comprehensive suite of financial services, encompassing investments, lending, insurance, and payment settlements.
The report also mentioned that the Bank of Japan’s steady rate hikes over the past year enabled traditional banks to raise interest on commercial loans. Next, the surge of new digital banking players is intensifying competition across the sector.
SBI Sumishin, a joint establishment between SBI Holdings and Sumitomo Mitsui Trust Bank, went public on the Tokyo Stock Exchange in March 2023. At the moment, SBI Holdings and Sumitomo Mitsui each own a 34% stake in the online lender, with the remaining shares held by public investors.
NTT Docomo announced on Thursday, 29 May 2025, that it will launch a tender offer to acquire shares of SBI Sumishin at ¥4,900 a piece, valuing the company at approximately ¥739 billion (US$5.1 billion). This is based on SBI Sumishin’s 150.8 million outstanding shares as of the end of March.
NTT Docomo plans to invest ¥233.6 billion in the NTT Docomo SBI Sumishin acquisition offer, which began on 29 May 2025 and will run through to 1o July 2025.
Following the tender offer, SBI Sumishin intends to repurchase the shares held by SBI Holdings.
NTT Docomo expects to hold approximately 66% of SBI Sumishin’s equity after completing a series of transactions, while Sumitomo Mitsui Trust Bank will retain a 34% stake. Both parties will hold equal voting rights in the online lender, according to the NTT unit.
In a separate announcement, SBI Holdings announced that NTT will acquire ¥110.75 billion of new shares in the company, which could make it one of SBI’s largest shareholders.
Featured image: Edited by Fintech News Hong Kong, based on image by SBI Sumishin Net Bank via its website
