Prudential Insurance Co. of America, the largest life insurance house in the United States, will enter the Japanese financial market by jointly establishing an investment trust management firm with Mitsui Trust & Banking Co., the two companies announced Wednesday.
At a joint news conference in Tokyo, top executives of both companies expressed confidence in their business alliance to launch a new, equal partnership venture, tentatively named Prudential-Mitsui Trust Investments Co.
"This joint venture is a significant opportunity for Prudential, and we are proud to have Mitsui as a partner," said Arthur Ryan, chairman and CEO of Prudential. "We are committed to working with Mitsui Trust to deliver the highest quality products and services to the Japanese retail market."