Deutsche Bank invests Japan Industrial Solutions fund
Deutsche Bank in Tokyo has announced its commitment to invest in a business revitalization fund to be initiated by Japan Industrial Solutions Co., Ltd. (JIS), established by the Development Bank of Japan (DBJ), Sumitomo Mitsui Banking Corporation (SMBC), Bank of Tokyo Mitsubishi UFJ (BTMU) and Mitsubishi Corporation (Mitsubishi).
JIS was founded in September this year to help local companies to revitalize. The investment size was not disclosed, but the initial target size of the fund was JPY30 billion ($356 million), with the fund expected to reach JPY100 billion ($1.2 billion) at most.
The capital commitment by Deutsche Bank will be allocated from its Strategic Investment Group. Will Park, Managing Director and Head of the Strategic Investment Group at Deutsche Bank, Tokyo Branch commented, "Through this move, we sincerely seek to help the revitalization of Japan's economy and its industries, by supporting the fund's dynamic approach to industry restructuring and other measures aimed at overcoming the structural challenges Japan's businesses face, such as increasingly competitive global markets and sluggish domestic demand."
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