The Tokyo Stock Exchange has decided to approve the listing of SBI Sumishin Net Bank, a major online finance company, on the First Section of the Tokyo Stock Exchange next week.
This is the first time that an online bank has been listed on the First Section of the Tokyo Stock Exchange.
Sumitomo SBI Net Bank was opened in 2007 with a 50% stake in Sumitomo Mitsui Trust Bank and SBI Holdings, and is a major domestic online bank with a deposit balance of over 7 trillion yen, mainly for mortgages.
I applied for listing on the Tokyo Stock Exchange last October, but according to the people concerned, TSE has decided to approve the listing on the First Section of the Tokyo Stock Exchange next week.
It is expected to be listed in the end of next month, and it will be the first time for an online bank to be listed on the First Section of the Tokyo Stock Exchange.
SBI Sumishin Net Bank will invest the funds obtained from the listing in businesses that provide services for different industries to enter the banking business, and will raise awareness and secure a wide range of human resources for mortgage loans. I would like to create a new pillar of profit that will continue.
Regarding online banks, Rakuten Bank, which has the largest number of accounts in Japan under the umbrella of a major IT company, is preparing for the listing of stocks, and the movement toward listing is in full swing.