Japan Post Corp. Begins Operations, Privatization on the Way

Share this content:
Japan Post Corp., a new stock company set up by the public corporation Japan Post, started operations yesterday in preparation for Japan's postal privatization, a 10-year process that begins next year.


Japan Post Corp. becomes a holding company Oct. 1, 2007, and splits into four units under the holding company. The new company will focus on plans to manage 260,000 employees and assets now controlled by Japan Post and study business models for the four units.


Yoshifumi Nishikawa, former president of Sumitomo Mitsui Banking Corp., was named president of the new company Friday. Former government official Shokichi Takagi and Hiroaki Dan, senior executive vice president of Japan Post, were appointed directors.


The three executives will select executives to run the four operating units, which will be privatized over the next 10 years. The units focus on postal savings, postal insurance, mail delivery and over-the-counter services at post offices nationwide.


At a news conference yesterday, Nishikawa stressed the need for Japan Post to change its ways of financing and investing with privatization in mind, according to news reports. The new company will receive government funding for a certain period even after the privatization process begins, triggering concerns that it could squeeze private financial institutions in competition for new business.


The government plans to decrease its stake in the new company to slightly more than one-third after the privatization process begins next year.


Melissa Campanelli covers postal news, CRM and database marketing for DM News and DMNews.com. To keep up with the latest developments in these areas, subscribe to our daily and weekly e-mail newsletters by visiting www.dmnews.com/newsletters


close

Next Article in Direct Mail

Sign up to our newsletters

Company of the Week

Brightcove is the world's leading video platform. The most innovative and respected brands confidently rely on Brightcove to solve their most demanding communication challenges because of the unmatched performance and flexibility of our platform, our global scale and reliability, and our award-winning service. With thousands of customers and an industry-leading suite of cloud video products, Brightcove enables customers to drive compelling business results.

Find out more here »

Career Center

Check out hundreds of exciting professional opportunities available on DMN's Career Center.  
Explore careers in digital marketing, sales, eCommerce, marketing communications, IT, data strategies, and much more. And don't forget to update your resume so employers can contact you privately about job opportunities.

>>Click Here

Relive the 2017 Marketing Hall of Femme

Click the image above