Japan's SBI Holdings to set up unit to invest in local businesses

Japan's SBI Holdings to set up unit to invest in local businesses

Mount Fuji and buildings in the Shinjuku district are reflected on a table at an observation deck in Tokyo, Japan. Photographer: Kiyoshi Ota/Bloomberg

Japanese financial group SBI Holdings Inc said on Monday it plans to set up an entity to invest in regional businesses with state-backed Development Bank of Japan and Shinsei Bank.

SBI Holdings, which owns stakes in a handful of regional banks, aims to revitalise local economies by getting directly involved in regional businesses, it said in a statement.

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