• Kyodo News

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Prudential Insurance Co. of America has likely been tapped to acquire Yamato Life Insurance Co., which has been placed under court-appointed administration, sources familiar with the matter said.

Prudential was one of two participants in a tender bid organized by lawyer Hideo Seto, who was named its bankruptcy administrator last October by the Tokyo District Court. Seto is trying to hand Yamato’s operations to an acquirer.

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