Mizuho Financial Group, Inc. (President & CEO: Tatsufumi Sakai) today concluded a memorandum of understanding (MOU) for strategic business cooperation with China Investment Corporation (CIC) and four other Japanese financial institutions (Nomura Holdings, Inc.; Daiwa Securities Group Inc.; Mitsubishi UFJ Financial Group, Inc.; and Sumitomo Mitsui Financial Group, Inc.) for the purpose of establishing a Japan–China industrial cooperation fund.
The MOU sets out the basic policies for Mizuho, CIC, and the other financial institutions' discussions about the proposed establishment of said fund. The fund's mission will be to invest in private equities to finance Japanese companies entering the Chinese market and Japan–China joint ventures.
Mizuho will contribute to the further enhancement of trade and investment cooperation between Japan and China by supporting Japanese, Chinese, and other Asian companies in entering the Chinese market.