First State Investments has hired Hiroyuki Aikawa as director of institutional business as it opens a new office in Japan.

Aikawa was most recently a relationship manager for Capital International in Japan. The establishment of a branch in the country is part of First State's strategy to expand into the growing institutional and pension fund market.

"The group has built a sizeable investment trust business in Japan and First State is determined to broaden its institutional client base by demonstrating a long-term commitment and increasing our resources in the country," said Michael Stapleton, regional managing director for Asia.

First State presently has around $3.8 billion in assets under management in the country via partnerships with local fund management firms.