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Japan after Abe

Japan PM hopeful Suga cites 'too many regional banks'

Front-runner to replace Abe hints at reorganization to revitalize local economies

As chief cabinet secretary, Yoshihide Suga has spearheaded efforts to rejuvenate regional banks. (Photo by Akira Kodaka)

TOKYO -- Japanese Chief Cabinet Secretary Yoshihide Suga, who this week announced his bid for the presidency of the ruling Liberal Democratic Party, is keen to consolidate the country's regional banks, now suffering from low margins due to the Bank of Japan's ultraloose monetary policy.

Asked about the negative effect of the BOJ's yearslong aggressiveness, Suga on Wednesday talked about a future in which there would be "too many regional banks."

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