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Japan's Mitsubishi Corp. to boost stake in Philippine conglomerate Ayala Corp. to 20% with 120 billion yen investment
The Japanese trading house will increase its investment by around 120 billion yen ($765 million), driven by forecasts of economic and population growth in the Southeast Asian country. This agreement expands an existing partnership between Mitsubishi and Ayala, which previously invested in GCash, the largest Philippine payments and finance app, through a joint venture.
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Source：Nikkei Asia · Source Link
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