Japan Post Insurance, Daiwa Securities Group tie up in asset management
TOKYO : Japan Put up Insurance protection and Daiwa Securities Community signed a capital-and-business settlement to cooperate within the asset administration field, with the insurer taking a 20 per cent stake in Daiwa’s unit, the firms said on Wednesday.
Daiwa Asset Administration will disaster novel shares to Japan Put up Insurance protection, while Daiwa Securities will wait on the closing 80 per cent stake, the three firms said in a joint notify.
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Japan Put up Insurance protection will entrust the Daiwa subsidiary with the administration of assets, they said.
After years of economic stagnation, the Eastern govt is aiming to flip trillions of bucks’ price of savings at Eastern households into investments in stock markets, spurring competition amongst asset managers.
Source: Reuters
