Aeon Bank To Buy Failed Incubator Bank

Aeon Bank, a banking unit of retail giant Aeon Group, is in the final stage of negotiations to purchase the failed Incubator Bank of Japan, according to The Nikkei. Aeon Bank, which initially targeted retail customers, plans to beef up the corporate finance business for small to midsized companies with this acquisition. The Incubator Bank of Japan went under in September 2010.