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DBS Group to set up securities unit in Japan

Japan's Financial Services Agency granted a license tooperate a securities business in the country, The Nikkei reported July 25.

The Singapore-based banking group plans to establish a securitiesunit in Japan as soon as mid-August.

As Bank of Japan's negative interest rate policy hasprompted yields to decline, DBS Group plans to offer high-quality debt withmore attractive yields to regional banks, trust banks and other institutional investors.