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. Last Updated: 07/27/2016

Japanese Bank Race

TOKYO -- The Long-Term Credit Bank of Japan, a failed bank reborn as a unit of a U.S. investment group, is heading the running to buy another failed Japanese bank, sources close to the deal said.

Success for LTCB in its bid to buy Tokyo Sowa Bank, a second-tier regional bank that failed last June, would be a boost to plans by the Ripplewood Holdings group to expand its presence in Japan's promising retail market following its 121 billion yen ($1.15 billion) takeover of LTCB earlier this year.

The deal could yet be thwarted by political opposition, sources said.