Japan's Monex and Credit Saison Join U.S.'s Vanguard for Funds
This article is for subscribers only.
Monex Group Inc. and Credit Saison Co. Ltd. have teamed up with Vanguard Group Inc., the biggest U.S. mutual fund company, to offer investment products to Japanese savers.
The firms on Monday announced the plans in Tokyo, saying they’ve together started an investment firm and an offering will be available next year, according to a statement. The three firms have jointly invested 250 million yen ($2 million) in the venture, with Monex owning 51.01 percent, Credit Saison owning 44 percent and Vanguard, based in Valley Forge, Pennsylvania, with a 4.99 percent stake, according to a briefing in Tokyo.