The Cabinet Friday approved a bill to scale back the privatization of state-owned Japan Post Holdings Co. and reorganize its five-company structure into three entities on Oct. 1, 2011.
The bill, expected to be enacted in June, obliges the banking unit to double its cap on deposits to ¥20 million, but it has not yet been decided whether to extend the government's guarantee on those deposits as well. That leaves the guarantee at ¥10 million.