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It had to come. After years of disappointingly low issuance, the Japanese domestic bond market has at last begun to bloom. Japanese companies issued more than ¥6,950 billion ($69 billion) of bonds and ¥189 billion of private debt placements in the first nine months of 1996, according to the Bond Underwriters Association of Japan. Total issuance for the year could be as much as ¥10,000 billion, nearly double the ¥5,046 billion that was issued in the whole of 1995. |
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