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The two companies stated in a declaration that Japan's second-largest bank, Sumitomo Mitsui, will increase its stake in the American investment bank Jefferies from the current 15% to about 20%, but its voting rights will remain below 5%. Sumitomo Mitsui plans to pay 135 billion yen (9.12 billion US dollars) to increase its shares. Sumitomo Mitsui will provide Jefferies with a new credit line of approximately $2.5 billion for cooperation in the areas of structured financing in Europe and the United States. The two companies also agreed to establish a joint venture in Japan to conduct stock research, sales and trading, and stock capital market business.