The government is studying having funds accepted into postal savings and kampo life insurance before and after the privatisation of Japan Post, slated for 2007, managed in separate accounts, respectively, government sources said.
Read MoreThe government is planning to separate the three units of the public postal service in the event of privatisation, local dailies reported, without citing sources.
The Mainichi newspaper and the Sankei newspaper reported the Japanese government is close to deciding a plan to separate the three business units of Japan Post – mail service, postal savings, and postal life units – by the time the public service is privatised.
Read MoreJapan Post is to bring its parcel delivery charges in line with those of private home delivery companies, sources said Monday.
The state-run parcel delivery service, founded in 1892, will drop its current weight-based pricing system in favor of a size-based system for its Yu Pack parcel delivery service.
By introducing a simplified rate structure as used by private companies such as Yamato Transport Co., which dominates the parcel delivery service industry, Japan Post hopes to win customers.
Read MoreJapan Post will team up with Sankyu Inc. to enter the international market by first setting up a network to deliver imported goods from China and Southeast Asia, the Nihon Keizai Shimbun reported Thursday.
The business daily said Sankyu will handle imported items from Asia while Japan Post will oversee deliveries to households and companies via its post office network.
Read MoreJapan Post President Masaharu Ikuta on Wednesday expressed opposition to a plan to separate postal savings and “kampo” life insurance services from post office operations when the entity is privatised.
“I hear about a plan to separate financial services from counter work at post offices, but it has not taken into consideration the realities of the services at all,”Ikuta said at a press conference.
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