Improper sales "minus the privatization process" Postman privatization chairperson January 17 16:10
Kazumasa Iwata, chairman of the government's postal privatization committee, said that the Japan Post Group was administratively sanctioned by the government and that the top of the three group companies resigned due to the improper sale of Japan Post Insurance. Argued that the privatization process had been significantly detrimental and called on new executives to do their utmost to restore trust.
The postal privatization committee of the government held a meeting on March 17 following an issue involving the improper sale of Japan Post Insurance and an internal investigation announced by the company last month, as well as administrative actions taken by the Financial Services Agency and the Ministry of Internal Affairs and Communications. We exchanged opinions about the content.
Following a press conference, Chairman Iwata said, "Japan Post lost the trust it has built up over its long history and has been a huge negative for the privatization process."
Mr. Iwata then stated, "It is extremely important to strengthen governance as a whole. I would like you to do our best to regain public trust as soon as possible." He called for full efforts to restore trust.