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Japan Post in talks over asset management joint venture: sources

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Japan Post Holdings Co Ltd is in talks to start an asset management joint venture with Sumitomo Mitsui Trust Bank and Nomura Holdings Inc to sell mutual fund products at post offices, sources with the knowledge of the matter said.

[TOKYO] Japan Post Holdings Co Ltd is in talks to start an asset management joint venture with Sumitomo Mitsui Trust Bank and Nomura Holdings Inc to sell mutual fund products at post offices, sources with the knowledge of the matter said.

The state-owned postal giant's banking unit has been considering setting up an asset management company that develops and sells financial products for retail customers at post offices, said the people, who were not authorised to discuss the matter publicly.

Nomura said nothing has been decided. A Sumitomo Mitsui Trust spokesman declined to comment. Japan Post officials were not immediately available for comment.

REUTERS

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