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Business deals

Japan's KDDI and Daiwa tie-up to offer investing by smartphone

Joint venture designed to make managing portfolios easy for young novices

KDDI, the internet and telecom provider, will be Japan's first major communications company to launch an asset management business.

TOKYO -- Japan's KDDI and Daiwa Securities Group will offer smartphone-based asset management via a joint venture that aims to tap the telecom provider's young customer base, easing newcomers into the world of financial products such as mutual funds.

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