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Nippon Dantai Life, AXA of France announce tie-up

TOKYO, Japan - Takeshi Matsudo (C), president of Nippon Dantai Life Insurance Co., Michael Short (L), president of AXA Life Insurance Co., the Japan unit of the AXA Group of France, and Michel Pinault (R), AXA Group's senior vice president, shake hands in Tokyo on Nov. 29 after announcing that Nippon Dantai and AXA have agreed to form a joint holding company that would effectively put the embattled midsize Japanese life insurer under AXA's control. Matsudo will become chief executive officer and president of the holding company, and Short will become chief operating officer and vice president.