Citigroup Inc. (NYSE: C) is set to sell its Japanese retail banking operations to a unit of Sumitomo Mitsui Financial Group Inc. (TYO: 8136) for an undisclosed price. 

Since the deal was announced on Dec. 25, reports have pegged the purchase price at 40 billion yen ($333 million). Citibank Japan has 2.44 trillion yen ($20 billion) in deposits, according to a joint statement.

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