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Nifco Inc., a manufacturer of industrial fasteners, has elected Ryuji Watanabe, 64, to succeed Toshiaki Ogasawara as president. Ogasawara will become company chairman.

Watanabe has been the company’s executive director since June 1996 and will assume the top post on June 28.

Born in Saitama Prefecture, Watanabe entered Toshiba Corp. in 1961 after graduating from the University of Tokyo, and joined Nifco in 1983.

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