ANA Holdings has established an investment management company in Singapore to focus on strategic investments in Asia.
The firm, Strategic Partner Investment, starts business today and will manage the investment operations of ANA Holdings.
"The company will focus on strategic investments in Asia, improving synergies with ANA Group's airline business and maximizing earnings," says ANA Holdings, the parent company of All Nippon Airways and AirAsia Japan and a (38.6%) stakeholder in Peach.
The new firm has start-up capital of S$120,000 ($95,430), and has appointed Kazuyuki Iwakata as its managing director.
When it announced its strategy for 2013-15 in April, ANA Group said it will make strategic investments in aviation-related businesses in Asia over the next three years, adding that it is seeking profit diversification through expansion into new business areas.