Japanese Mega-Merger Heralds Shake-Up In Tokyo FX Market

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TOKYO--The long-awaited consolidation of the Japanese banking industry finally came into view earlier this month, with the announcement of a three-way merger deal that could create the largest bank in the world in asset terms--worth a little under $1.3 trillion dollars.

Officials in Tokyo claim the merger of Industrial Bank of Japan (IBJ), Fuji Bank and Dai-Ichi Kangyo Bank (DKB) will create "one of the top five global financial leaders"--a Japanese banking colossus to rival the likes of Deut