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On April 27, postal services legislation to partially adjust the postal system privatization by a joint proposal made by the Democratic Party of Japan, Liberal Democratic Party, and New Komeito, was passed and enacted at a plenary session of the House of Councillors.
The legislation will make Japan Post Network Co. and Japan Post Service Co. merge into a new corporation. The new corporation and Japan Post Holdings Co. (the holding company of Japan Post Group) will take responsibilities for the provision of universal services which deliver basic services for post, bank, and insurance integrally at each post office.
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