Japan's SBI Holdings Inc. launched an investment fund of up to ¥100 billion to boost the lending capacity of regional banks.
The brokerage said in an Oct. 4 release that the first phase of the fund, launched this week, will invest ¥10 billion in Toho Bank, Ltd., The Joyo Bank, Ltd., The Bank of Nagoya, Ltd., Fukuoka Chuo Bank, Mizuho Trust & Banking Co., Ltd., and Daiwa Securities Group Inc.
The fund will enable these financial institutions to invest in regional SMEs that are struggling to stay afloat amid population decline.
The fund is managed by SBI Regional Revitalization Asset Management Co., Ltd., a special SBI Holdings unit in charge of the brokerage's regional investment strategy.
As of Oct. 3, US$1 was equivalent to ¥106.83.
