Japanese brokerages are gearing up to offer more alternative assets to the nation’s wealthy, who are increasing in numbers even as the overall population falls.
Mizuho Securities expects more sales this fiscal year after selling funds worth about ¥15 billion ($102 million) focused on private assets in the year ended March 31, in its first 12-month period of making those offerings to wealthy individuals, according to Miho Migita, head of private placement fund development division.
The Tokyo-based brokerage is expanding its suite of products such as private credit, which are nonbank loans to borrowers including risky companies. Mizuho has a team to develop alternative funds for wealthy clients, and the staff has increased to 23 people from 15 when it started in 2021, Migita said.