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Business

Japan's Sumitomo steps into China's eldercare fray

With market set to double, trading house partners up to offer advisory services

TOKYO -- Sumitomo Corp. is pushing into China's eldercare business, aiming to capitalize on a market that is projected to explode in the next few years.

The Japanese trading house has agreed to collaborate with two companies: Japan's Ship Healthcare Holdings, which specializes in hospital operations, and China's Landsea Group, which already runs nursing homes in the city of Nanjing. Sumitomo and Ship Healthcare will share expertise with the Chinese partner.

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