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Mizuho Financial units, DIAM ink integration agreement for asset management merger

MizuhoFinancial Group Inc.'s units and DIAM Co. Ltd., a joint venture with , haveformally entered into an integration agreement to merge their asset management operations.

Under the plan, DIAM, Mizuho Asset Management Co. Ltd., Shinko Asset ManagementCo. and the asset management function of Mizuho Trust & Banking Co. Ltd. will be combined toform Asset Management One Co. Ltd.

The combined company will have capital of ¥2 billion.

The merger will become effective Oct. 1, subject to relevantapprovals.

As of July 12, US$1was equivalent to ¥104.51.