Japan Post Bank To Sell Mutual Funds From 2016

Reports out of Tokyo suggest that Japan Post Bank Co., the country's largest holder of deposits, will start selling Mutual Funds from February 2016.

The mutual funds are to be jointly developed with Sumitomo Mitsui Trust Bank and Nomura Holdings Inc.

Japan Post Bank, a unit of Japan Post Holdings Co, will likely own 45 percent of the new asset management joint venture, with SMTB holding 30 percent, Nomura 20 percent and Japan Post Holdings 5 percent, sources said.

Japan Post Bank will be able to utilize the substantial branch network of post offices throughout the country to market and sell the new funds.