Sakura Bank said Friday that it will acquire a controlling stake in Minato Bank, a second-tier Kobe-based regional bank -- the first takeover bid in the Japanese banking sector.

In the friendly takeover bid, Sakura Bank will purchase between 53 million and 142 million Minato shares for 240 yen per share between next week and July 24, the bank said.

The deal will see the Sakura group's stake in Minato rise from the current 9.96 percent to up to 47.29 percent. Considering Sakura Bank's planned merger with Sumitomo Bank in April, the combined stake of the Sakura and Sumitomo groups is estimated to reach a maximum of 50.27 percent.