Mizuho Financial Group Inc. said Wednesday it will take a roughly 16 percent stake in Matthews International Capital Management LLC, a U.S. fund management company with a focus on Asia, in a bid to improve the profitability of its asset management business.
Mizuho Financial is expected to invest around ¥23.9 billion ($200 million) to acquire shares in Matthews International from existing shareholders by the end of March and dispatch an official to the American company’s management board.
Unable to view this article?
This could be due to a conflict with your ad-blocking or security software.
Please add japantimes.co.jp and piano.io to your list of allowed sites.
We humbly apologize for the inconvenience.