The move is part of broad business alliance announced by the two companies last October. The units being merged are Industrial Bank's IBJ NW Asset Management Co and IBJ Investment Trust Management Co and Dai-Ichi Life Asset Management Co. IBJ and Dai-Ichi Life each will have a 50 per cent stake in the newly created company, to be called DL-IBJ Asset Management Co, which will be capitalized at 1.4 billion yen. With 5.7 trillion yen in assets under management, DL-IBJ Asset Management will become one of the top asset-management companies in Japan.

The Wall Street Journal