• Compiled From Kyodo, Bloomberg

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Sumitomo Trust & Banking Co. and Aozora Bank said Tuesday they have agreed to tie up in a broad range of businesses, including real estate, to boost their competitiveness by utilizing each other’s business knowhow.

Sumitomo Trust, Japan’s fifth-largest banking group, and Aozora Bank, the successor to the once-nationalized Nippon Credit Bank, will launch joint operations in real estate, trust and asset management by around the end of March, the two banks said.

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