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KAGOSHIMA (Kyodo) Minami Nippon Bank said Wednesday that it is thinking of applying for a public bailout, becoming the second bank to take advantage of new legislation allowing the government to use taxpayer money to strengthen wobbly banks.

The regional bank based in Kagoshima Prefecture is likely to ask the Financial Services Agency in February to inject several billion yen into its capital base, which has been eroded by large evaluation losses on its securities holdings amid the global financial crisis, according to the sources.

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