[DigitalToday reporter Oh Sang-yup] Viva Republica, operator of Toss, is pursuing entry into Japan’s financial market by acquiring a Japanese securities company. With demand for mobile stock investing growing in Japan, it aims to secure a local securities licence and business base to target young investors.

On Oct. 30, the financial investment industry said Viva Republica plans to acquire all shares of Cheer Securities, a unit of Japan’s Tokai Tokyo Financial Group, through an overseas business company headquartered in Singapore.

Cheer Securities is a smartphone-only brokerage wholly owned by Tokai Tokyo Financial Group. Tokai Tokyo Financial Group currently holds Cheer Securities as a subsidiary engaged in financial instruments business.

Nihon Keizai Shimbun projected the acquisition price at around 4 billion yen (about 34 billion won). Viva Republica is reported to be aiming to complete the transaction within fiscal 2026, from April 2026 to March 2027.

Cheer Securities has provided small-lot stock trading and investment trust services via smartphones since completing its securities business registration in November 2021.

After completing the acquisition, Viva Republica plans to take over Cheer Securities’ status as a “Type I Financial Instruments Business Operator” and step up its financial business in Japan in earnest.

In Japan, interest in online stock investing and asset building is rising, especially among younger people. Viva Republica is expected to use Cheer Securities’ existing online stock trading platform to secure a new customer base.

Rising demand for online payments amid an increase in tourists between South Korea and Japan is also cited as a factor behind the expansion in Japan. It would secure a business base that can combine its existing experience operating payment and financial platforms with local securities operations.

South Korean financial companies have recently continued to expand into Japan. Mirae Asset Securities officially announced on Oct. 29 that it would acquire a 100 percent stake in Japan’s Sanko Securities through its U.S. subsidiary, Mirae Asset Security Holdings.

With Viva Republica joining Mirae Asset Securities in moving to acquire a local securities firm, the push by South Korea’s financial investment and fintech industry into the Japanese market is also seen expanding.

A Toss official said, “We decided to pursue the acquisition because we judged that our business direction aligns, given that Cheer Securities has built services that even beginner investors can easily access.” The official added, “Procedures remain to meet preliminary conditions such as approvals and licences from relevant authorities, so we are focusing on preparations to complete the acquisition and operate it in a stable manner.”