Sources familiar with the matter told Reuters that the deal would be worth approximately JPY80bn ($682m).
The life insurance firms are expected to finalize their discussions with Resona by end of the month, the publication said.
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Dai-ichi already owns a 2.5% stake in Resona. Nippon Life is expected to acquire Resona’s treasury shares.
If the proposed transaction materializes, it would enable insurers to boost sales of their products at Resona’s branches.
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