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Japan Post Holdings is to reportedly partner with Daiwa Securities Group to create new investment products says Nikkei Asian Review.

Under an agreement to be announced today, Japan Post Bank and Daiwa Securities will work together to develop mutual fund wraps, which are accounts managed by a financial institution based on customers’ investment goals. These products — a first for the bank — will be marketed at 233 directly operated Japan Post Bank branches and more than 1,500 large post offices.

The bank will apply for government approval as early as autumn, aiming to begin sales in 2021.