Postal entity to have net worth of 6-7Tril Yen
The government has drafted a decree calling for net worth equivalent to 6-7 trillion yen to be held by a public corporation to be set up in April to take over postal services from the Postal Services Agency, government officials said Wednesday.
The draft was approved by the governing Liberal Democratic Party’s policy-making panel on postal services earlier in the day and is expected to be adopted by the cabinet Dec. 13, said officials at the Ministry of Public Management, Home Affairs, Posts and Telecommunications.
The draft decree stipulates that the planned Postal Public Corp. secure net worth equivalent to 3% of its total funds plus 150 billion yen set aside in case it falls into the red.
If the corporation’s funds fluctuate at just above 200 trillion yen, the size of net worth would turn out to be 6-7 trillion yen, the officials said.
The draft decree also stipulates that areas of business in which the new public entity can invest be limited to two fields — handling of data on mail delivery and creating and sending of mail.
The new public entity is scheduled to take over the three postal services — mail delivery, postal savings and life insurance — from the Postal Services Agency.
