News

New Japan Post Group started on October 1, this year. . Post office company and mail delivery units were merged into one. The new structure is three operation companies under the umbrella of the holding company.



Now the government is planning to sell off the two thirds of its shares in Japan Post Group Holdings within three years. The government expects to raise up to $87 billion. All proceedings from the sales of shares will be used to help the reconstruct areas hit by the earthquake and tsunami on March 11, 2011.



One the other hand, two financial units are fully owned by the Japan Post Holdings. The possibility of those two units share sales will be examined after about half of Japan Post Holdings` shares are sold.



Two financial units are planning to start new services including housing loans, and others. The Japanese Bankers Association and private-sector financial groups have been opposed to further expansion of the two units` business operations while the government continues to own their shares.



Regarding to shares in Japan Post Bank, and Japan Post Insurance, the law has set a nonbinding target of selling 100 % of share. The Japan Post Group Holdings do not want to sell the cash cow of those two units.



Japan Postal Group Union has not delivered the official statement.