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Mitsubishi UFJ to buy two Asia units of Home Credit for $620 million

Mitsubishi UFJ Financial Group said Thursday it would buy the Philippine and Indonesian units of Dutch consumer finance company Home Credit Group for about €596 million ($621 million, ¥86.2 billion).

The deal comes as Japan’s largest lender aims to beef up its business in Asia to tap growth in consumption in emerging markets, while ultralow interest rates and an aging population limit business opportunities at home.

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