Japan’s Sumitomo Mitsui Banking Corp to invest $912.84 million in U.S. investment bank Jefferies, deepening alliance and raising stake to 20%. Joint venture in Japan to consolidate equities businesses, starting January 2027. Stake expected to boost profit by 50 billion yen in fifth year. SMBC aims to improve issuer and investor demand with Jefferies alliance. SMBC to provide Jefferies with $2.5 billion in new credit facilities. Larger Japanese banks also making moves in U.S. market. No decision made on future investments. (Source: Reuters)

Read more at Yahoo Finance: SMBC raises stake in Jefferies to up to 20% with $912 million investment