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Business deals

Sumitomo buys into Taiwan's No. 2 supermarket chain

Simple Mart deal expands trading house's retail footprint on the island

Simple Mart seeks to double its 600-plus store count by 2023 with help from Sumitomo. (Photo by Yuji Ohira)

TOKYO -- Sumitomo Corp. will buy 22% of Simple Mart, Taiwan's second-largest supermarket operator, gaining a new channel for distributing Japanese products and making new business moves on the island.

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