Japan’s state-backed JIC to launch $5.4bn fund for big restructuring deals

TOKYO — The state-backed Japan Investment Corp. will set up an 800 billion yen ($5.4 billion) fund as early as this year for sweeping business overhauls as Japanese companies log a record pace of mergers and acquisitions.

The fund, to be established through subsidiary JIC Capital, is expected to focus on deals topping 100 billion yen with investment horizons of about 10 years.