BlackRock Inc., PNC Bank Corp.'s asset management arm, said Tuesday it formed a new company with Nomura Asset Management Co., Tokyo, to sell investments in Japan.

The partners have invested $3.7 million apiece for equal stakes in Tokyo-based Nomura BlackRock Asset Management Co., said Laurence Fink, chairman and chief executive officer of BlackRock.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.