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Kamei Reappointed as Japan Banking Minister
Tuesday, 08, June 2010


Shizuka Kamei, leader of Japan’s People’s New Party, was reappointed as financial services minister, responsible for oversight of the banking, securities and insurance industries.Naoto Kan, who replaces Yukio Hatoyama as prime minister today, will also have Kamei continue overseeing Japan Post Holdings Co., the state-run operator of the world’s biggest bank by deposits, Yoshito Sengoku, Japan’s chief cabinet secretary, said at a briefing in Tokyo today.

Kamei, 73, has clashed with the leaders of Japan’s banking industry over plans to allow the postal bank to increase the amount of deposits it can collect and expand banking operations. The Democratic Party of Japan, which swept to power after winning almost two-thirds of seats in the lower house of parliament in August elections, needs the support of Kamei’s party in the upper house to push through legislation.
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