FTC to closely monitor Japan Post
The Fair Trade Commission (FTC) will closely observe the operations of Japan Post, a public postal corporation to be launched April 1, as it is considered a private firm under the Antimonopoly Law, a senior FTC official said Wednesday.
“We will closely monitor (the organization) so that fair competition takes place (in postal services),” Akio Yamada, secretary general of the FTC, said at a press conference.
Although the new organization is a state-run entity, it will be considered a private company and subject to the Antimonopoly Law, Yamada said, as the new entity will adopt corporate accounting methods and other management measures used in the private sector.
As the size of the new organization is huge, it will have a comparable influence on competition, he said, adding state monopoly in postal services is permitted by the Mail Law.
The FTC is “most interested” in whether Japan Post will exert its influence in other fields, Yamada said.
The new postal entity will replace the Postal Services Agency and take over the services of mail delivery, postal savings and “kampo” life insurance April 1.
AP-NY-03-26-03 0159EST
FDMSKYviaNewsEdge
Copyright (c) 2003 Federal Document Clearing House
