Japan’s SBI to Extend Offer for Shinsei by a Month on Some Conditions

A woman walks past a logo of the Shinsei Bank at its branch in Yokohama, south of Tokyo, Japan on June 23, 2010. Issei Kato/Reuters

TOKYO—Japanese financial conglomerate SBI Holdings said on Friday it would extend the deadline for its $1.1 billion unsolicited tender offer for Shinsei Bank to Nov. 24 from Oct. 25 if Shinsei agreed to meet certain conditions.

SBI, which owns Japan’s largest online brokerage, operates an online bank and has stakes in multiple regional banks. It is planning to increase its stake in Shinsei to as much as 48 percent from 20 percent to take effective control of the lender.