New Japanese government want complete management overhaul
Japan’s financial services minister Shizuka Kamei targets a complete change in the management of Japan Post, reports Bloomberg. The article continues:
“I hope they will make the decision on their own,” Kamei said on a Nippon Television program, referring to voluntary resignations.
The Democratic Party of Japan, which took power after its landslide 30 August election victory, pledged to reverse Liberal Democratic Party plans to sell off the postal service and its bank, which holds 178 trillion yen ($2 trillion) of deposits.
Kamei, who quit the then-ruling LDP in 2005 after opposing postal privatisation, reiterated a plan to submit to parliament legislation that will freeze plans for selling shares in units of the postal group.
Prime minister Yukio Hatoyama said before taking office he wanted Japan Post president Yoshifumi Nishikawa, who helped craft privatisation plans for the group, to resign.
