Transfer of the business, which was formerly part of Prudential’s International Investment business, will be effective from 1 May 2013.
PIMJ head Yasuhisa Nitta will report to James Sullivan, senior managing director and head of Prudential Fixed Income, according to the company.
Offering domestic yen fixed income actively managed product as well as domestic and foreign credit products, PIMJ manages assets for Prudential’s Japanese insurance operations, institutional investors and investment trust funds.
Sullivan said that the transfer will allow PIMJ to take advantage from the stability of its global fixed income platform by expanding and improving its capabilities.
"Both businesses will be able to leverage their combined resources across investment management, credit research, infrastructure and marketing as we further grow our global business," Sullivan added.
As of 31 March 2013, Prudential Fixed Income had $400bn in assets under management (AUM) and offers financial services to institutional investors.
