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Cool Japan Fund's big ambitions mostly fall flat

Lack of strategy, discipline gives rise to unprofitable projects

Traffic has been scarcer than expected at this Japan-focused store run by Isetan Mitsukoshi Holdings in Kuala Lumpur.

TOKYO -- The public-private fund at the center of Japan's initiative to promote cultural exports is struggling four years after its launch, with many taxpayer-funded projects failing to deliver the promised results.

Bleeding money

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