TOKYO — The Japanese units of State Street Corp. and Barclays Global Investors reportedly are preparing to start issuing funds in Japan tracking indexes such as TOPIX, the Nikkei average, and the capital-weighted Nikkei 300.

State Street Japan said it will apply to the Tokyo Stock Exchange and Nihon Keizai Shimbun Inc. for the licensing, and the Barclays unit is considering launching funds tracking similar exchanges, according to a Reuters report.

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