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US-based T. Rowe Price to expand Japan operations

U.S.-based T. Rowe Price Group Inc. plans to expand its operations in Japan to meet demand from yield-hungry investors in the country, the Nikkei reported Sept. 12.

The asset manager plans to establish a team specializing in multiasset investing strategies in its Japanese arm. It will send over staff from its U.S. headquarters and hire new strategists from Japan as well.

The expansion is part of T. Rowe Price's efforts to grow its business outside the U.S. The company had established a full-fledged subsidiary for its Japanese operations in April 2018.