Mizuho Financial Group Inc. (8411.TO) said Thursday it signed a business tie-up with BlackRock Inc. (BLK) to deepen cooperation in the asset management business in Japan and Asia.

Japan's second largest bank by assets said it will strengthen its alliance with Blackrock, the world's largest asset manager, to collobarate on mutual funds, pensions and other asset management operations, including marketing BlackRock's financial products to Japanese individuals and businesses.

In November, Mizuho bought a 1.6% stake in BlackRock for $500 million, in a move designed to help the Japanese lender ramp up its asset management operations.

-By Atsuko Fukase, Dow Jones Newswires; 813-6269-2792; atsuko.fukase@dowjones.com
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