Matthews Asia Announces Mizuho Financial Group as a New Shareholder
Matthews International Capital Management, LLC today announced the addition of Mizuho Financial Group (“Mizuho”) as a new equity holder in the firm.
San Francisco, CA, September 29, 2015—Matthews International Capital Management, LLC (“Matthews Asia”) today announced the addition of Mizuho Financial Group (“Mizuho”) as a new equity holder in the firm. Mizuho will acquire approximately 16% ownership interest in Matthews Asia from a portion of the ownership currently held by a broad group of existing equity holders and Mizuho will 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 US$1.6 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, commented: “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, commented: “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.”
About Matthews Asia
Matthews Asia is an independent, privately owned firm and the largest dedicated Asia investment specialist in the United States. With US$26.2 billion in assets under management as of August 31, 2015, the firm employs a bottom-up, fundamental investment philosophy, with a focus on long-term investment performance.
About Mizuho Financial Group
Mizuho Financial Group is one of the leading financial institutions in Japan, offering a broad range of services including banking, trust banking and securities, and other business related to financial services through its group companies. The group has approximately 55,000 staff working in approximately 900 offices inside and outside Japan, and total assets of over US$1.6 trillion (as of March 30, 2015).
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