The American Chamber of Commerce in Japan has urged the government to make sure private-sector firms will be able to compete on an equal footing with the four postal entities to be spun off from Japan Post.
The entities of what is effectively the world's largest bank are to be fully privatized by 2017 under the newly enacted postal reform laws.
The ACCJ, which represents more than 1,400 companies, said Tuesday that Japan should follow "global best practices," including treating domestic and foreign service providers equally and securing transparency and fairness in implementing the privatization laws.
"The ACCJ believes that privatization consistent with the global best practices identified in our report is crucial to achieving favorable results," said ACCJ Executive Director Donald Westmore in releasing the organization's report at the Foreign Correspondents Club of Japan in Tokyo.
Those best practices are stipulated by such international organizations as the Organization for Economic Cooperation and Development, the World Bank and the World Trade Organization, according to the report.
Under the legislation enacted on Oct. 14, Japan Post will be split into four stock companies under a holding firm on Oct. 1, 2007, and its postal savings and "kampo" life insurance businesses will be fully privatized by Sept. 30, 2017.
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