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Business deals

MUFG to buy fund-administration business in Americas

Deal with Europe's Maitland lifts Japanese megabank to No. 5 in global market

Mitsubishi UFJ Financial Group sees fund administration as a promising business as its earnings are squeezed by ultralow interest rates in Japan. (Photo by Wataru Ito)

TOKYO -- Mitsubishi UFJ Financial Group will acquire fund-administration operations in the Americas from Luxembourg-based Maitland, boosting economies of scale in a business that provides a valuable stream of steady income from fees.

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