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Japan Post Bank to boost investment in startups

Tokyo-based lender will quintuple outlay to $724m by 2026

Norito Ikeda, president of Japan Post Bank, right, and Hiroaki Mizuno, CEO of Pie Systems Japan, at a press conference on their new partnership on Nov. 29. Pie Systems operates an app that allows foreign travelers to claim tax refunds easily.

TOKYO -- Japan Post Bank will quintuple the amount of investment in venture businesses and small companies in Japan over the next four years, it said on Tuesday, as part of a new business strategy.

The new strategy calls for the largest deposit-taking institution in Japan to use its network of 233 branches across the country to spot promising businesses, provide capital and help them expand.

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