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Tokyo Century to partner Lippo in Indonesia online lending

Loans to be based on e-commerce transaction history

TOKYO -- Japan's leasing business Tokyo Century plans to launch an online lending platform in Indonesia with local partners as early as next year. As smartphone-use quickly spreads among Indonesian consumers, the business sees an opportunity in online financing in the Southeast Asian country.

Tokyo Century will partner with affiliates of Indonesian conglomerate Lippo Group, including online shopping operator Global Ecommerce Indonesia for the joint venture. The Japanese company plans to buy stakes in its partners, spending a total $100 million. 

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