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Shinsei Bank, which has captured the spotlight recently due to a sudden takeover bid from major Japanese online financial service firm SBI Holdings Inc., continues struggling to shore up its operations, with its share prices remaining low for a long period of time.

The bank has little prospect of repaying about ¥350 billion in public funds, or taxpayer money, provided by the government in the past. In 2009, it agreed with Aozora Bank on their merger for survival. But the merger accord broke down the following year.

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