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Report: Japan's 2 megabanks mull integrating ATM systems

Mitsubishi UFJ Financial Group Inc. and Sumitomo Mitsui Financial Group Inc. are considering integrating their automated teller machine systems, The Asahi Shimbun reported May 12.

The move aims to cut costs amid thinning profit margins due to Japan's low interest rates, the report said, without specifying any time frame.

Mizuho Financial Group Inc. is also expected to join the initiative later, according to the report.