Mizuho, Dai-ichi Life to merge asset management affiliates
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.

TOKYO -- Japan's Mizuho Financial Group and Dai-ichi Life Insurance plan to integrate three affiliates with the asset management department of Mizuho Trust & Banking. The move will create one of Japan's largest asset managers.

The new company will handle assets worth some 50 trillion yen ($413 billion), including investment trusts along with public and corporate pensions. The merger is expected to be completed in the first half of fiscal 2016, which begins next April.