Internet service provider Livedoor Co. said Thursday it will buy a 51.53 percent stake in Nippon Global Securities Co. through a tender-offer bid.
Livedoor said it will launch the bid for 58 million shares at 61 yen per share on March 1 and close it March 22.
Livedoor, which changed its name from Edge Co. on Feb. 1, said it will spend more than 3.5 billion yen on the bid.
It said that three Nikko Cordial Corp. group companies, which have a combined 51.8 percent stake in Nippon Global, have agreed to respond to the bid.
Nikko Cordial might sell its group stake in Nippon Global as part of the reorganization of its group companies. Livedoor is seeking entry into the online brokerage business targeted at individuals through a tieup with a brokerage house.