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Japan Post privatization heads to finale with up to $12bn share sale

Government to cut stake to legally mandated minimum as early as the fall

A Japan Post office. Tokyo will cut its ownership of the postal group to just over one-third. (Photo by Hideyuki Miura)

TOKYO -- The Japanese government will sell off another chunk of Japan Post Holdings as early as this fall, moving to end a more than decadelong privatization process.

The Finance Ministry said Tuesday it will sell up to 1.06 billion shares of the postal group, making the sale worth around 1.3 trillion yen ($11.7 billion) based on Tokyo-listed Japan Post's closing price that day.

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