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Deeply risk-averse, Japanese investors pass up Toshiba deal

Cash-strapped conglomerate turned to foreign funds, which may make a killing

TOKYO -- Toshiba's surprise decision to raise some 600 billion yen ($5.34 billion) in a private placement of new shares was the most talked-about deal of the year. Its tapping of overseas funds also helped showcase the lack of Japanese investors willing to go after risky targets.

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