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Daiwa Sec: may set up Y500 bln private equity fund

Tue Aug 12, 2008 1:57am EDT

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TOKYO, Aug 12 (Reuters) - Daiwa Securities Group Inc (8601.T), Japan's second-largest brokerage, said on Tuesday it is considering setting up a private equity fund amounting to 500 billion yen ($4.54 billion) in the next three to four years.

Daiwa Securities Chief Executive Officer Shigeharu Suzuki also told Reuters in an interview that the company will miss its target for a recurring profit of 350 billion yen in the financial year to next March. ($1=110.12 Yen) (Reporting by Junko Fujita and Emi Emoto)



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