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Japan Post to cut 2,000 jobs at Australian unit

Company's president says optimism got in the way of due diligence

Japan Post Holdings President Masatsugu Nagato, left, speaks at a news conference in Tokyo on April 25.

TOKYO -- Japan Post Holdings will cut 2,000 jobs at its struggling Australian logistics unit in an attempt to keep Toll Holdings a core of its overseas expansion.

Japan Post on Tuesday announced it will book a 400 billion yen ($3.62 billion) write-down in Toll goodwill for the fiscal year ended in March.

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