Norinchukin Bank Signs Tie-Up With Dah Sing Financial Holdings to Promote Food Exports

By Kosaku Narioka

Norinchukin Bank said Friday that it has agreed on a tie-up with a unit of Dah Sing Financial Holdings Ltd. to promote the export of Japanese food and agricultural products in Hong Kong, Macau and parts of Guangdong province.

The Japanese cooperative bank also said the agreement enables both parties to improve their financial services in areas such as local currencies settlement, financing, business matching and merger advisory.

Norinchukin said that with rising income levels and increasingly affluent lifestyles in mainland China, the outlook is robust for growth in Japanese food exports.

Norinchukin didn't disclose the financial terms of the tie-up.

Mitsubishi UFJ Financial Group Inc. said earlier Friday that it decided to sell its stake in Dah Sing Financial and end a tie-up with the Hong Kong-based financial services company.

Write to Kosaku Narioka at [e-mail]

(END) Dow Jones Newswires

07-08-22 0459ET