SBI Holdings (8473.TO) said Monday it will sell its entire stake in its joint venture with the Japanese unit of French insurer Axa S.A. (AXA).

The Japanese financial services provider said it will sell its 55% stake in SBI Axa Life Insurance Co. to Axa Japan Holding Co. on Feb. 16.

Axa Japan currently holds a 40% stake in the joint venture, while Softbank Corp. (9984.TO) holds the remaining 5%.

SBI Holdings said it expects to book a special profit of about Y800 million from the stake sale.

-By Atsuko Fukase, Dow Jones Newswires; 813-6269-2792; atsuko.fukase@dowjones.com
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