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Shimizu Bank to issue 1.8 million new shares

Japan's Shimizu Bank Ltd. plans to issue 1.8 million new shares to raise capital.

This is aimed at meeting expected new loan demand as the bank improves consulting services for local customers.

The price of the shares will be decided between June 4 and June 7, the lender said in a May 25 release.

As of May 25, US$1 was equivalent to ¥109.37.