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Economy

Millennials share their way to a new form of capitalism

A generation finds fun, comfort and opportunity in the sharing economy

A man meditates under the Kiyomizu no Taki waterfall in Japan's Saga Prefecture, as part of a bespoke tour. (Photo by Takaki Kashiwabara)

TOKYO -- Homes, cars, parking spaces, bicycles, clothes, even graves: The scope of the "sharing economy" is perpetually expanding, fanned by advances in information technology and a tech-savvy millennial generation. 

In Japan alone, sharing services raked in about 1.18 trillion yen ($10.39 billion) in revenue last year, according to Tokyo think tank InfoCom Research. That figure is expected to reach 2.63 trillion yen in the not-too-distant future.

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