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Politics

Japanese megabanks, DBJ to set up turnaround fund

Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank and Sumitomo Mitsui Banking Corp. will contribute to the new corporate rehabilitation fund.

TOKYO -- Japan's three megabanks and the Development Bank of Japan will form a 200 billion yen ($1.91 billion) fund to help foundering companies get back on their feet, the country's largest such venture since the global financial crisis.

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