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Mizuho, Dai-ichi Life to create Asia's largest asset manager

TOKYO -- Mizuho Financial Group and Dai-ichi Life Insurance on Thursday were to announce a new asset management company, according to sources.

     The new company, to be launched on Oct. 1, is to manage assets worth about 50 trillion yen ($434 billion), which would be Asia's largest pool of assets. The parent companies hope the scale will help boost returns amid an increasingly difficult investment environment due to low interest rates.

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