The Lower House's passage Thursday of a bill to revise the Postal Privatization Law is a key development in an issue that was relegated to the back burner for years, experts said.
The bill includes provisions to reduce the number of companies under the control of Japan Post Holdings from four to three and allows the government to sell its shares in Japan Post.
"Considering that everything had come to a halt in regards to privatization, (the passage of the bill) is a step forward," Naoyuki Yoshino, an economics professor at Keio University, told The Japan Times.