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Japan's cross-held shares fall below 10% of all holdings

Old zaibatsu ties coming undone as companies look for better returns

TOKYO -- Japan's listed businesses are accelerating away from their traditional practice of cross-shareholdings, in which groups of companies invest in one another to solidify their business ties.

Nomura Securities research shows that the percentage of cross-held shares dropped to 9.9% of all listed shares at the end of 2016 -- falling below the 10% mark for the first time.

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