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Japan Post bets on overseas growth ahead of listing

Japan Post Holdings President Taizo Nishimuro discusses the company's strategy at a news conference Feb. 18.

TOKYO -- Japan Post Group vows to become one of the world's top five logistics companies under an ambitious overseas strategy announced Wednesday.

     Its acquisition of Australian logistics company Toll for 6.48 billion Australian dollars ($5.07 billion) marks the first step toward that goal. The deal, which would turn Toll into a wholly owned unit as early as June, is the group's largest yet.

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