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Japan plans to raise as much as ¥100 billion from sovereign wealth funds in oil-producing nations to boost foreign investment that is less than a quarter that of the United States.

The Ministry of Economy, Trade and Industry has initiated talks with sovereign wealth funds, including Saudi Arabian Investment Co., to create a fund to which Japan will provide initial capital of ¥100 billion from its budget in the next two years, a senior ministry official said on condition of anonymity because negotiations are under way.

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