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Tokyo Century, Indonesia's Nobu Bank strike cooperation agreement

Tokyo Century Corp. signed a cooperation agreement with Indonesia-based PT Bank Nationalnobu Tbk, with plans to enter the mobile payments market in the Southeast Asian nation.

The Japanese specialty finance company also said it is considering acquiring a further stake in Bank Nationalnobu, known as Nobu Bank, but did not specify the size of the stake it may buy.

Tokyo Century acquired a 5% shareholding in the Indonesian bank in May.