Japan Post to introduce employee stock ownership scheme

Japan Post Corp., a planning company for the breakup and privatization of state-owned Japan Post, plans to introduce a stock ownership scheme to employees of a privatized group, Jiji Press learned Tuesday.

The scheme will be aimed at raising employees’ awareness of the management and luring qualified workers, sources close to the matter said.

According to a business program for Japan Post, the “Yucho” postal savings bank and the “Kampo” insurance firm to be born out of the planned privatization of Japan Post in October will aim to go public in fiscal 2010. Japan Post Corp., which will be a holding company for four offshoot firms to be created in the breakup, will also plan to list its stock in the same year.

Employees at the group’s remaining two companies, a mail delivery firm and a post office network management company, will also be allowed to hold shares of the three listed companies, the sources said.