Japan Inc. speeds unwinding of cross-held shares amid rally

Planned consolidation of Topix based on free float encourages stock sales

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Companies hold around 10% of Japanese stocks, less than one-fifth as much as in the bubble era, according to the Nomura Institute of Capital Markets Research. (Photo by Yuki Kohara)

LISA KIM, Nikkei staff writer

TOKYO -- Japan's stock market rally makes an appealing environment for companies to unwind their cross-shareholdings, as they come under heightened pressure to improve their corporate governance.

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