On September 26, 2014, businessweek.com reported that Japan Post Co. had agreed to acquire a 40% stake in Credit Saison Co.’s asset management unit for approximately 800 million yen.
On September 26, 2014 businessweek.com reported that Japan Post Co. had agreed to acquire a 40% stake in Credit Saison Co.’s asset management unit, Saison Asset Management for approximately 800 million yen and to form a capital alliance. Credit Saison is based in Tokyo, Japan and provides credit card, leasing, and real estate services. Japan Post Co. is the state-owned operator of Japan’s 24,000 post offices. The deal is expected to help boost Saison Asset’s cash pool to 1 trillion yen and to expand Japan Post’s client base. Under the alliance agreement, Japan Post and Credit Saison will expand investment trusts for Japanese customers. Japan plans to use the proceeds from the deal to pay for reconstruction work following the 2011 earthquake and tsnuami in northeastern Japan.
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