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October 4, 1998

SOFTBANK-E*TRADE BUYS JAPANESE BROKERAGE

By CBR Staff Writer

Japanese software manufacturer Softbank Corp will acquire brokerage house Osawa Securities it announced on Friday. Softbank’s joint venture firm, E*trade Japan KK has agreed to buy all of Osawa’s 4.38 million outstanding shares. The acquisition will allow E*Trade Japan to launch internet stock brokerage services by year-end, according to the Jiji Press.

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