Morningstar Japan K.K. agreed to acquire 67% stake in Carret Asset Management, LLC from GB Capital LLC for $12.1 million.
August 28, 2018
Share
Morningstar Japan K.K. (JASDAQ:4765) agreed to acquire 67% stake in Carret Asset Management, LLC from GB Capital LLC for $12.1 million on August 29, 2018. Morningstar Japan K.K will sign a formal contract on September 30, 2018. Morningstar Japan K.K. entered into the agreement to acquire 67% stake in Carret Asset Management, LLC from GB Capital LLC on January 11, 2019. The consideration will be payable in cash. For fiscal year ended December 2017, Carret Asset Management reported net assets of $6.9 million, total assets of $9.2 million, sales of $8.9 million, operating income of $0.95 million and net income of $0.82 million. The transaction is subject to obtaining permission and approval from local authorities.
SBI Global Asset Management Co Ltd, formerly Morningstar Japan KK, is engaged in the financial services and asset management businesses. The Company operates its business through two segments. The Asset Management segment provides investment management services, including the establishment, offering, and management of investment trusts, mainly publicly offered additional equity investment trusts and privately placed bond investment trusts, investment advisory services for Fund of Funds and other funds, and consulting services related to defined contribution pension plans. The Financial Services segment provides data solutions and media solutions. The data solutions sells the web-based version of Stock Newspaper, distributes stock price and corporate information, and provides fund analysis reports and stock reports, among others. The Media Solutions provides advertising on the Company's website, marketing consulting, advertising agency services, among others.
SBI GLOBAL ASSET MANAGEMENT CO., LTD. 
