Mizuho Trust & Banking Co. Ltd. will launch comprehensive pension management services from September, the Nikkei reported Aug. 14.
The business will mainly target institutions with more than ¥10 billion in pension assets, and commissions will start at several million yen.
The move comes as Japan's ultra-low interest rates, pension system changes, and increasing retirement deferral create more demand for pension management. Mitsubishi UFJ Trust & Banking Corp. began offering services integrating pension management with human resources development support in April.
As of Aug. 13, US$1 was equivalent to ¥106.41.