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Head of Japan fund apologizes for pension losses
The head of a Japanese investment company accused of losing more than $1 billion in clients' pension funds apologized Tuesday, saying he intends to repay losses that were concealed for years.AIJ Investment Advisors President Kazuhiko Asakawa made the apology in a committee hearing at Japan's parliament over allegations the company lost 109.2 billion yen ($1.3 billion) in pension funds in derivatives
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