On July 22, an Asia-based financial services group, Nomura Holdings, Inc. announced that it has formed a business tie-up with Japan Post Bank Co., Ltd., Japan Post Co., Ltd., and Sumitomo Mitsui Trust Bank, Limited to jointly establish a new asset management company and develop asset management products.
Nomura has an integrated global network with over 30 countries and offers a wide range of financial services through three business divisions which are Retail, Asset Management, and Wholesale (Global Markets and Investment Banking).
The application for registration as a financial instruments business is scheduled between October 2015 and January 2016. It plans to start offering the new investment trusts through Japan Post Bank and Japan Post in February 2016.
In the new company which is due to be established with capital of 500 million yen, Nomura will take a 20% stake, while Japan Post Bank will take a 45% stake, Sumitomo Mitsui Trust Bank a 30% stake, and Japan Post a 5% stake.
Nomura and Sumitomo Mitsui Trust Bank will provide the new company with expertise in the area of asset management. The new company will develop easy-to-understand investment trust products that meet the needs of retail investors in the nationwide networks of Japan Post Bank and Japan Post, supporting stable asset formation over the long term and contributing to the shift from savings to investment in Japan.
Nomura believes that this business alliance will further enhance Nomura’s asset management business in Japan.
While Nomura currently doesn’t expect the business alliance to have a material impact on its consolidated results, however if a material impact occurs, the group will timely disclose it.