Key Takeaways Jefferies agreed to SMFG's plan to lift its stake to 20%, with a 100B yen investment.The firms may combine Japan equities units, expanding their cross-border client offering.Jefferies eyes growth in Asia, while SMFG gains U.S. equity market exposure through the deal.Jefferies Financial Group (JEF) agrees to Sumitomo Mitsui Financial Group’s (SMFG) proposal to increase its stake in the U.S. investment bank. Per a Bloomberg report citing people familiar with the matter, the Japanese lender, whic ...