The government plans to modify the process of privatizing Japan Post group, meaning people must continue to wait to find out how the services they rely on will be affected.
In October the government outlined a basic policy of requiring Japan Post to make not only postal services but also banking and insurance services available nationwide on an equitable basis. A bill passed in December froze sales of government-held stocks in Japan Post Holdings Co. and its associated postal bank and insurance firms. Now the government plans to submit a bill to the Diet in March that will make structural changes to Japan Post group.
At present, Japan Post Holdings Co. has under its umbrella the Japan Post Bank Co., Japan Post Insurance Co., Japan Post Service (mail delivery) Co. and Japan Post Network (over-the-counter services) Co. The government's envisaged changes will integrate the holdings, mail delivery and over-the-counter services companies into one firm, with the banking and insurance firms operating separately under its wing.
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