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Daiwa scraps age limit for salespeople

Brokerage bets on motivated employees and stronger sales

TOKYO -- In a move that surprised many despite the rapid aging of Japanese society, Daiwa Securities Group has decided to effectively abolish its mandatory retirement system for salespeople.

In 2013, the big Japanese brokerage introduced a program to re-employ retired salespeople until the age of 70, effectively raising the retirement age by five years.

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