Merrill Lynch to close down 6 branches in Japan; to break even next year

Merrill Lynch decided to close down 6 securities branches in Japan and affected employees would be transferred to the near branches. The move is expected to help the house fund break even in 2002.

The closed branches are located in Tokyo and Osaka, and 27 branches are still in operation after the closure.

Merrill Lynch has suffered loss for consecutive 3 years, posting loss of JA¢D25.9 bln in 1999 and JA¢D22.4 bln in 2000.

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