• Kyodo

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Japan Post Holdings Co. will acquire a 7 percent stake in U.S. insurer Aflac Inc. in 2019, after gaining regulatory approval, and make it an affiliate four years after the purchase to expand their cooperation, both firms said Wednesday.

Following the stake purchase — worth about ¥270 billion ($2.4 billion) — Japan Post and Aflac will jointly develop new insurance products and make investments.

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