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Business trends

Japan's megabanks study shared ATMs and more self-services

Cost-cutting paramount as nation shifts to cashless economy

People use Mizuho Bank ATMs in Tokyo. Mizuho is unlikely to join discussions on sharing ATMs with other major banks for now.   © Reuters

TOKYO -- Japan's three megabanks are trying to cut costs by reducing the number of ATMs and full-service branches as the country shifts to a cashless economy and the Bank of Japan's negative interest rate policy erodes profits.

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