Graduation is a synonymous for leaving, and not every graduation in the female idol world gets a graduation concert or things like that (although it is usually the way companies are able to get extra money by charging people for the idol's departure). When I said graduations exist, it means that individual members can leave the group without the group dissolving (as might happen sometimes when an important member of a group leaves). The media announces such departures as graduations too, even though there aren't ceremonies, it is just the term used in the idol world.
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