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3 Japanese credit unions to merge

Tobiume Shinyou Kumiai, Fukuokaken Chuou Shinyo Kumiai and Fukuokaken Nanbu Shinyo Kumiai said they have made preliminary plans to merge, based on business uncertainty due to a potential reduction in future market size, among other things.

The potential market shrinkage is partly the result of a declining population, according to a March 23 release.

The planned merger of the credit unions will take place in December.