Attention: This document is a translation of the press release announced on March 29, 2010
by Daiwa Securities Group Inc. and Daiwa Asset Management Co. Ltd. The original press
release is in Japanese.
Daiwa Securities Group Inc. and Daiwa Asset Management Co. Ltd. (jointly gDaiwa
Securities Grouph) today announced that Daiwa Securities Group will acquire from Shinsei
Bank Limited and other shareholders 100% stake in Shinsei Asset Management (India)
Private Limited (gSAMIh), which conducts asset management business in India as an affiliate
of Shinsei Bank, and Shinsei Trustee Company (India) Private Limited (gSTCh). SAMI and
STC will become 100% subsidiaries of Daiwa Securities Group subject to necessary
approvals from regulatory authorities in India.
SAMI was established in May 2007 as a subsidiary of Shinsei Bank and is conducting
asset management business in India. SAMI, headquartered in Mumbai, has 4 branches in
India, and has entered into number of distribution contracts with banks, securities
companies and other local financial institutions and IFAs. STC is a company which, as a
trustee, monitors the management company and assumes a role to protect interests and rights of investors.
Daiwa Securities Group, in its mid-term management plan prepared in April 2009, aims to
expand its business in Asia and emerging market countries. India has more than 1.1 billion
in population, the second largest next to China, and is enjoying high economic growth.
Daiwa Securities Group will capture the growth opportunity by entering the rapidly
growing Indian domestic asset management business, and by acquiring this Indian asset
management company, we will also reinforce and enhance our capability to provide various
products to Japanese investors. This acquisition will further strengthen our business
platform in Asia and will lay the foundations to seize future business opportunities in Asia.
