TOKYO (Reuters) -Sumitomo Mitsui Financial Group Inc, Japan’s second-largest lender by assets, plans to buy 5% of Jefferies Financial Group Inc shares for around 42 billion yen ($380.19 million), the Nikkei reported on Wednesday. The move is part of SMFG’s effort to strengthen its securities business in the United States to tap strong demand for M&A deals and financing, Nikkei said. SMFG, in a statement, confirmed that it is considering the capital tie-up with Jefferies and would make an announcement when the two companies agreed to a deal. Japanese banks have been seeking business opportunities abroad as the country faces an ageing and shrinking population. Earlier this month, SMFG announced its plans to buy a 74.9% stake in Fullerton India for $2 billion, the first major foray by a Japanese bank into India during recent times. ($1 = 110.4700 yen) Reporting by Tokyo Newsroom; Editing by Christopher Cushing and Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles.