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Nomura Holdings Inc., Japan’s largest brokerage, will make its biggest domestic acquisition as it leads an investment group paying at least ¥280 billion for the failed Ashikaga Bank Ltd.

Japan’s banking regulator said it chose the Nomura-led group to buy the regional lender, nationalized in 2003. The investors will buy ¥120 billion in existing Ashikaga shares and ¥160 billion of new stock in the bank, the Financial Services Agency said Friday.

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