Mizuho Financial and Dai-ichi Life Insurance are to integrate three affiliates with the asset management department of Mizhuo Trust & Banking, thereby creating one of Japan's biggest asset managers, handling assets worth around $413bn. The merger is expected to complete in next April, with Mizuho Financial holding a 51% stake in the new company and Dai-ichi Life holding the remainder.
Mizuho Financial and Dai-ichi Life Insurance are to integrate three affiliates with the asset management department of Mizhuo Trust & Banking, thereby creating one of Japan's biggest asset managers, handling assets worth around $413bn. The merger is expected to complete in 1H 2016, with Mizuho Financial holding a 51% stake in the new company and Dai-ichi Life holding the remainder.