Because the Imperial government recognized that, worldwide, the turning of the year is most commonly celebrated with a great deal of alcohol, or at the very least staying up very late and getting very little sleep, it was decided to create a second national holiday, Procrastinator's Day, solely to allow people to sleep off their New Years celebrations.
Procrastinator's Day is typically not celebrated in any particular way. In keeping with the spirit of the day, anything non-urgent which people intended to do that day tends to be put off until January 3rd.
This holiday was adopted some time prior to January 1999.