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Pharma, Insurance, and Chemicals: The Diversifiers From healthcare to insurance and chemicals: Takeda Pharmaceutical (TSE:4502) : $2.1B, 8,539, 2.3% yield Chugai Pharmaceutical (TSE:4519) : $1.1B, 5,325, 2.9% yield Tokio Marine Holdings (TSE:8766) : $2.2B, 6,328, 2.7% yield MS&AD Insurance (TSE:8725) : $1.5B, 3,068, 4.7% yield Japan Tobacco (TSE:2914) : $2.6B, 1,556, 4.4% yield Shin-Etsu Chemical (TSE:4063) : $1.4B, 3,369, 3.0% yield Japan Post Bank (TSE:7182) : $1.4B, 5,020, 2.1% yield A New Era for Japanese Income Investors This cohort of dividend titans reflects a broader shift in Japanese corporate governance

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These trends fueled by China Tobacco come against the backdrop of a long-term decline in cigarette sales globally