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Aozora Bank, Japan Asia Investment set up fund management JV

Aozora Bank Ltd. and Japan Asia Investment Co. Ltd. have established a fund management joint venture to support the management succession needs of small and medium-sized enterprises.

The new Tokyo-based entity, AJ Capital Co. Ltd., commenced operations on May 31 and has a capital of ¥20 million. Aozora Bank and Japan Asia Investment each hold a 50% stake in the joint venture.

Masayuki Kobayashi serves as president and CEO of AJ Capital.

As of June 6, US$1 was equivalent to ¥110.07.