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Startups

Japan Post Bank to spend $7bn on turning startups into unicorns

Lender to use nationwide network of 24,000 post offices to find investment targets

Japan Post Bank plans to make startup investments a pillar of its new business strategy. (Photo by Rie Ishii)

TOKYO -- Japan Post Bank plans to invest 1 trillion yen ($7.05 billion) into startups across the country, leveraging its nationwide postal network to identify promising businesses.

"There are too few unicorns in Japan," President Norito Ikeda told Nikkei, referring to startups valued at over $1 billion. "We will take risks and take on growth investment."

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