Sumitomo Trust and Banking Co said on Thursday it hopes to take Nikko Asset Management public in two to three years.

It also said it would hold talks with Sumitomo Mitsui Financial Group and Nikko Cordial Securities on a possible alliance in the retail business.

Sumitomo Trust said earlier it would buy Nikko Asset, Citigroup's Japanese asset manager, for 112.4 billion yen ($1.2 billion).

 (Reporting by Chikafumi Hodo)