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DKB, J.P. Morgan to set up trust venture

Taira Hosaka (3rd from L), senior managing director of Japan's Dai-Ichi Kangyo Bank (DKB), shakes hands with Keith M. Schappert, president of J.P. Morgan Investment Management Inc. of the United States, in Tokyo on Oct. 1. DKB and J.P. Morgan and Co. agreed to set up a joint investment trust venture early next year as part of a broad capital tie-up between the two banks. DKB will be the first of Japan's nine major commercial banks to form a capital tie-up with a foreign financial institution.