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Nomura Holdings signs deals to set up China-Japan industrial fund

By Jiang Xueqing | chinadaily.com.cn | Updated: 2018-10-26 15:47
A pedestrian walks past the headquarters of Nomura Securities Co, a unit of Nomura Holdings Inc in Tokyo, Japan. [Photo/Agencies]

Nomura Holdings Inc announced on Friday that it has signed a memorandum of understanding with the China Investment Corporation and several major Japanese financial institutions. The MOU is part of a strategic alliance to establish a China-Japan industrial cooperation fund.

The fund aims to enhance bilateral trade and investment relations between China and Japan by investing in Japanese companies seeking to expand their businesses into China, as well as Chinese companies and companies from other third-party countries.

The other financial institutions which have signed the MOU are Daiwa Securities Group Inc, Mitsubishi UFJ Financial Group Inc, Sumitomo Mitsui Financial Group Inc, and Mizuho Financial Group Inc.

Under the MOU, the parties have agreed to set up a fund management company. The MOU also sets out fundamental principles and other necessary considerations for creating the fund.

The establishment of the fund management company and the fund is subject to the execution of a final agreement, regulatory approvals by the relevant authorities, including in Japan and China, and respective company board approvals.

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