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Mitsubishi UFJ Financial Group Inc., Sumitomo Mitsui Financial Group Inc. and Credit Saison Co. may submit bids for Japan Airlines Corp.’s credit card unit, five people with knowledge of the transaction said.

JAL, Asia’s most indebted carrier, asked local and overseas firms this week to submit acquisition proposals by Oct. 31, the sources said, declining to be identified as the information is not yet public. Credit Saison plans to ally with Mizuho Financial Group Inc. to buy a stake in JALCard Inc., which has 2 million cardholders.

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