Tag: Japan

Japan Post expects to secure roughly 15 billion yen in net profit from its postal delivery operations for the current fiscal year, taking just half the time to achieve an initial target of 14 billion yen net profit, sources at the public corporation said.

The projected profit size means that postal operations will return to the black for the first time in two year. Japan Post was created last April 1 to take over the governmental Postal Services Agency.

A plan to maintain the current nationwide network of post offices by offering new administrative functions and services was stressed Tuesday by the Council on Economic and Fiscal Policy as the council resumed debate on the privatisation of three postal services.

However, the treatment of special post offices, which comprise about three-quarters of the nation’s post offices, and their high personnel costs, is another major issue in the debate.

The Council on Economic and Fiscal Policy resumed full-fledged debate on the privatization of the postal services, which Prime Minister Junichiro Koizumi considers the “centerpiece” of the structural reform he champions.

At the meeting, the council members agreed on the need to have a diverse range of over-the-counter services available at the nationwide network of post offices as a “fourth function,” in addition to the three current key services of mail delivery, postal savings and kampo life insurance.

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