Japan Post is holding negotiations with Nomura and Sumitomo Mitsui Trust to create an asset-management joint venture.
If the deal materializes, Sumitomo Mitsui Trust Bank, a division of Sumitomo Mitsui Trust Holdings, and Nomura will become minor partners in the business.
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The talks are still at an early stage, and the firms have not yet taken a decision on when to form the venture or how much capital each would infuse for the business.
The JV, which is expected to be launched next year, would develop and sell mutual funds and other financial products to retail customers at the state-owned postal services provider’s offices.
Japan Post, which is searching ways to improve profitability before an initial public offering later this year, expects the new venture to boost the group’s fee revenues.
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