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Cross Shareholdings Fall to a Record Low in Japan, Nomura Says

Cross shareholdings between Japanese companies fell to a record low at the end of March, according to Nomura Holdings Inc.

Stocks held by corporate allies fell to 11.1 percent of total outstanding shares as of March 31, a 0.4 percentage point decline from a year earlier, the brokerage said in a report today, based on a survey of 3,631 companies. Cross shareholdings, which have declined two years running, fell to the lowest level since Nomura started tracking the figure in 1991.