Nikko Asset Management Co. may wait until next year before pursuing an initial public offering that it shelved in December, avoiding markets roiled by Europe's debt crisis, two sources said.
Nikko Asset, a unit of Sumitomo Mitsui Holdings Inc., was looking to revive the IPO this year, said the sources, who asked not to be identified because the information is private. Nikko Asset spokeswoman Kyoko Wada declined comment.
The Nikkei 225 stock average has sunk 14 percent since April 1, weighed down by the sovereign debt crisis in Europe, where policymakers are struggling to contain financial turmoil. Global IPO announcements have dropped 25 percent this year from the same period in 2011 and more than 100 companies have withdrawn offers, according to data compiled by Bloomberg.