Japanese Government approves Japan Post's plan to book loss
The Internal Affairs and Communications Ministry on Monday endorsed an April-September business plan by Japan Post anticipating a net loss of 852.7 billion yen for one-time charges to cover future mutual pension payments worth 1.3 trillion yen.
Japan Post mapped out the six-month business plan as its 10-year privatization process is due to begin in October.
The ministry approved Japan Post’s plan to fall into the red for the first time based on a recommendation by an advisory panel to the communications minister.
