The Hong Kong-listed unit of Japan's Softbank Corp. said on Tuesday it would pay HK $18.67 million in cash for a 10 percent stake in Morningstar Asia.

Morningstar Asia is a joint venture between Hong Kong's Pacific Century CyberWorks and U.S.-based Morningstar Inc.

Softbank Investment International (Strategic) Ltd also said in a statement its immediate parent Softbank Finance would take a 10 percent stake in Morningstar Asia for HK$18.67 million.

Morningstar Asia plans to offer consumer-oriented financial websites in Asia.

"In views of the success of Morningstar Inc. and Morningstar Japan, the board has confidence that Morningstar Asia will yield financial benefits to the company in the future," said Junichi Goto, president of Softbank Investment International.

After the deal, Morningstar Inc. would cut its stake in Morningstar Asia to 39.9 percent from 49.9 percent, while Advanced Internet Visions Ltd, a company 70 percent held by Pacific Century CyberWorks (PCCW), would reduce its interest to 40.1 percent from 50 percent, Softbank Investment International said.

PCCW's sister company Pacific Century Insurance holds the remaining 30 percent in Advanced Internet Visions.

Both PCCW and Pacific Century Insurance are subsidiaries of Singapore listed Pacific Century Regional Development Ltd , controlled by Hong Kong entrepreneur Richard Li.