(Bloomberg) -- Boutique merger and acquisition firms have just found another potential buyer.

After a dealmaking slowdown led to a slew of sales of firms like Greenhill & Co., now Japan’s second-biggest brokerage has entered the fray, as it joins rivals in betting on an eventual rebound in transactions while seeking to boost its presence in the US.

Daiwa Securities Group Inc. will consider purchasing “strong boutique” firms that advise on mergers, according to a presentation Wednesday. The Tokyo-based company plans to boost revenues from that business by about 50% or more and add 250 people in M&A over the coming eight years.

“We are planning to aggressively channel our business resources” into M&A advice, Chief Executive Officer Seiji Nakata said at a briefing in Tokyo, adding that he is focusing on adding bankers in the US given its large fee pool. At the same time, Daiwa will move to restructure its trading business, he said. 

The statement is the latest from a Japanese financial institution to signal intent to scale up dealmaking overseas. Mizuho Financial Group Inc. is forging further into US investment banking through its deal to buy Greenhill, while Sumitomo Mitsui Financial Group Inc. last month agreed to triple its stake in Jefferies Financial Group Inc.

Dealmaking globally has slumped about 44% this year to $973 billion amid economic uncertainty and tougher financing markets, according to data compiled by Bloomberg. 

Deutsche Bank AG agreed last month to buy Numis Corp., one of the best-known UK boutiques. In March, Toronto-Dominion Bank completed the $1.3 billion acquisition of US brokerage Cowen Inc.

Read More: Wall Street Deals Show Unfulfilled Ambition of Japan’s Megabanks

Under Nakata’s leadership, Daiwa has been working to strengthen its mid-cap merger advisory business. It has already acquired two US boutiques and has a foreign network of about 500 bankers targeting smaller transactions. 

Still, the push comes even as the brokerage and its larger rival Nomura Holdings Inc. face weak revenues from deals, with banking crises in the US and Europe the latest troubles to weigh on client sentiment. Nomura earlier this month cut its profit targets and announced a review to revive profitability.

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