Mirae Asset Global Investments announced on Thursday that Global X Japan, its joint investment venture in Japan, surpassed 100 billion yen ($756 million) in assets under management, just two years after launching its first product.

Global X Japan is a joint venture established in September of 2019 by Global X Management – a New York-based fund management firm acquired by Mirae Asset Global Investments in 2018 – and Japanese investment company Daiwa Asset Management. It is the only management company specializing in exchange-traded funds, or ETF, in Japan.

In Japan, where index ETFs such as TOPIX and Nikkei225 dominate 85 percent of the ETF market, Global X Japan has been taking a differentiated approach by focusing on thematic and income ETFs since its establishment a few years ago.

“Although the Japanese market is still relatively new to thematic and income ETFs, many major insurance and retail companies here are taking an interest in our products,” Global X Japan said.

The business has introduced 27 ETF products so far. Among its most notable products are the Global X Japan Semiconductor ETF, which invests in Japanese companies that build semiconductor equipment and materials, as well as the Global X Japan Game & Animation ETF, which invests in the Japanese gaming industry.

By consistently solidifying its lineup of thematic and income ETFs, Global X Japan has achieved a whopping 100 billion yen in AUM in a relatively short amount of time. It was able to escalate the scale of its operations by concentrating on local marketing and fundraising, according to Mirae Asset.