Toss seeks to acquire Japanese brokerage for 34 billion won, targeting young investors

【Financial News, Tokyo = Special Correspondent Seo Hyejin】Viva Republica, the operator of Toss, is seeking to acquire a Japanese smartphone-only securities firm. Its plan is to attract young investors in Japan by leading with mobile financial services. Following Mirae Asset Securities’ acquisition of Sanko Securities, Korean financial firms are expanding their presence in Japan’s securities market.
According to The Nikkei on the 30th, Viva Republica plans to acquire a 100% stake in CHEER Securities, a subsidiary of Tokai Tokyo Financial Holdings, through its overseas business entity headquartered in Singapore. The Nikkei reported that Tokai Tokyo plans to announce the sale after its board approves the proposal that day.
The acquisition is estimated at around 4 billion yen (approximately 34 billion won). The goal is to complete the deal by next March, when fiscal 2026 ends. The acquisition of a local securities firm registered as a Type I Financial Instruments Business Operator—a registration required for stock trading and other activities—will give the company a foothold for its operations in Japan.
Viva Republica is targeting young individual investors in Japan. The Nikkei reported that the company had viewed the investment enthusiasm among young people in Japan as a business opportunity and had been preparing to enter the market. It plans to attract customers looking to build their assets by leveraging CHEER Securities’ online stock trading service.
Founded in 2013, Viva Republica provides financial services such as money transfers and insurance through Toss. According to The Nikkei, Toss has about 30 million users. Since launching its service in 2021, its affiliate Toss Securities has grown its customer base among people in their 20s and 30s by emphasizing an easy-to-use trading experience, even for beginners. The cumulative number of accounts opened had reached 10 million by September this year.
CHEER Securities was established by Tokai Tokyo in November 2019. Tokai Tokyo, whose business had been centered on face-to-face sales, set up the company to attract customers seeking to build their assets. After registering as a Financial Instruments Business Operator in November 2021, it has offered services that let users trade small-lot stocks and investment trusts on smartphones.
However, the company has posted a net loss every year since its establishment. It also recorded a net loss of 3 billion yen in the fiscal year ended this March. After the acquisition, attracting customers and improving profitability are expected to be key challenges.
Mirae Asset Securities is also moving to acquire a Japanese securities firm. The previous day, it announced that it had signed an agreement to acquire all shares in Sanko Securities, part of the Okasan Securities Group, through its U.S. subsidiary, Mirae Asset Securities Holdings. The purchase price for the shares is approximately 47.6 billion won.
Mirae Asset Securities plans to strengthen Sanko Securities’ existing proprietary trading business and reorganize its business structure before expanding into services for individual clients. If Toss’s acquisition also goes through, competition among Korean financial firms to attract customers in Japan’s individual-investor market is expected to intensify.
[email protected] Seo Hyejin Reporter