A planning company to be launched by the government Jan. 23 to set the stage for privatizing postal services will be capitalized at 300 billion yen, a committee on postal privatization said Wednesday.
According to the committee, Japan Post will purchase all of the new company's 6 million shares to be issued and will transfer them to the government when the planning company is set up.
Each share will have a face value of 50,000 yen, the committee said.
The planning firm will prepare for smooth privatization and deal with issues such as allocating Japan Post manpower and assets to the four firms and new business possibilities. After privatization, the firm is expected to become the holding company.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.