Well, I did more research and got this information from a member of the International Society for Japanese Philately (isjp.org)
It is an Election Certificate Stamp (Bira Shoushi), which is issued by local election commissions to candidates to be affixed to posters and leaflets, indicating official approval to distribute. Each candidate, once registered, is issued a certain quantity in order to prevent flooding of campaign materials by some candidates to the detriment of others.
The text can be read as:
The1985 General Election Conducted for Members of the House of Councilors Political Activities Ministry of Home Affairs
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