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Shinsei Bank to repurchase up to ¥10B of shares

Shinsei Bank Ltd. plans to repurchase up to 10 million of its own shares for up to ¥10 billion.

The bank said in a Jan. 31 release that the share repurchase period will run from Feb. 1 through July 31. The shares to be repurchased represent 3.86% of Shinsei Bank's outstanding shares.

The move is part of the lender's efforts to repay public funds.

As of Jan. 31, US$1 was equivalent to ¥109.27.