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Riso Kyoiku Co., a Japanese cram school operator targeting wealthy parents, plans to double its centers to about 250 in five years to spur revenue, Chairman Mitsugu Iwasa said.

Riso Kyoiku aims to double the number of students to about 40,000 by adding schools mainly in Tokyo, and is considering expanding abroad, Iwasa said. Deutsche Bank AG will buy options from Riso Kyoiku to purchase as much as ¥4.2 billion in Treasury stock, according to a filing to the Tokyo Stock Exchange this week.

“The firm is expanding its business in Japan and seeking to launch operations overseas,” Iwasa, 62, said. “We will also aggressively seek mergers and acquisitions with firms that enable us to work together for mutual benefit.”

Riso Kyoiku has boosted revenue for 26 years in a row since its 1985 foundation, documents on its website show. Revenue climbed 8 percent to ¥18.8 billion in the year ended Feb. 28.

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