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Jibun Bank to Become KDDI Subsidiary

Jibun Bank to Become KDDI Subsidiary

   Tokyo, Feb. 12 (Jiji Press)--Major Japanese telecommunications carrier KDDI Corp. <9433> said Tuesday that it will make Jibun Bank, an online bank, a subsidiary.
   Jibun Bank, now equally owned by KDDI and MUFG Bank, will issue new shares worth 25 billion yen for allotment to the telecom carrier, which operates the "au" brand mobile phone business. The third-party share allotment will raise KDDI's equity stake in the bank to about 64 pct.

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AFP-JIJI PRESS NEWS JOURNAL


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