• Kyodo

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The Finance Ministry will sell part of the government’s stake in Japan Tobacco Inc. this year to raise more than ¥500 billion to finance reconstruction from the March 2011 earthquake and tsunami.

The ministry said Friday it expects to sell one-sixth of the tobacco company’s outstanding shares in fiscal 2012 ending next March. The government, which now holds half of JT’s outstanding shares, has decided to reduce the amount to a little more than one-third.

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