• Kyodo


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.

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