Once seen as a model for consolidation, the merger of two regional banks in Nagasaki may expose flaws in Prime Minister Yoshihide Suga’s plan to revitalize regional economies by creating stronger lenders.

In Nagasaki’s distant past, the city was a stronghold of trade and finance. These days, Japan’s larger ports soak up all the business, and local banks, crippled by a stagnant economy and shrinking customer base, scrap for profits.

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