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Japan's 70-somethings: Ready spenders with deep pockets

Largely untapped age group could open wallets wider with targeted products and services

Though they don't look it, Japan's baby boomers in their seventies are relatively big spenders.

TOKYO -- Japan's aging society poses problems, but is not without opportunities for spurring economic growth, especially when considering the needs -- and spending habits -- of people in their seventies.

Most in this age group no longer have parents that need care. Because of this, according to Shinya Sano, chief research manager at Mitsubishi Research Institute, they have fewer financial worries and seem more willing to spend than others.

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