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Daiwa Securities Group Inc., the umbrella for the Daiwa Securities group of firms, said Tuesday it will cede the presidency of its research unit to Daiwa Securities Group Deputy President Takashi Fukai as of April 1.

Daiwa Institute of Research Holdings Ltd. is the holding firm of Daiwa Institute of Research Ltd., the research arm of the Daiwa group, where former Bank of Japan Deputy Gov. and Vice Finance Minister Toshiro Muto is serving as chairman.

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