Mizuho Financial Group (Mizuho) is to become an equity holder in Matthews Asia, by acquiring approximately a 16 per cent ownership interest in the firm from a portion of the ownership currently held by a broad group of existing equity holders.
Mizuho will also assume a seat on the management board for Matthews Asia.
Mizuho is a leading Japanese financial services group, headquartered in Tokyo and with a global presence in 38 countries around the world. As the second largest financial services group in Japan, it has assets in excess of USD1.6 trillion in operations that include corporate and retail banking, brokerage and investment management.
The transaction is expected to close by the end of the first quarter of 2016 and is subject to customary closing conditions, including receipt of any required regulatory approvals.
William Hackett, Chief Executive Officer of Matthews Asia, says: “We are pleased to welcome Mizuho as a new owner in Matthews Asia. Regarded as a preeminent global financial institution, Mizuho’s investment in our firm is an endorsement of the success Matthews Asia has achieved for our clients over the past 24 years. Mizuho’s investment will help ensure continued long-term stability of ownership while retaining our independence.
"Given Mizuho’s strong reputation in the financial services sector, their considerable experience and dominant presence in Japan, we are excited about the opportunity to partner with them in showcasing our distinctive Asia-focused investment strategies. We look forward to developing a strong and productive relationship with Mizuho and continuing to deliver long-term value for our clients, stakeholders and employees.”
Katsunobu Motohashi, Head of Asset Management Unit, says: “We are pleased to announce that Mizuho Financial Group is entering into a capital and business alliance with Matthews Asia, a leading manager of Asian investment strategies. Matthews Asia’s long-term investment philosophy complements our client needs as they increasingly shift their wealth from savings to investments. We look forward to collaborating with Matthews on developing Asia-focused investment products and bringing their unique investment perspective to our clients.”