Expiration date of the sale of shares of Japan Post and others 5 years from FY2022 Government 3/3 11:22
The government has decided to extend the deadline to sell its shares of Japan Post and other shares to fund the reconstruction of the Great East Japan Earthquake for five years from FY2022.
The government has decided to extend the deadline for the establishment of the Reconstruction Agency, which will be until the end of March next year, for 10 years, and to continue the Special Account for Reconstruction from the Great East Japan Earthquake to secure necessary financial resources.
At the same time, the government has proposed to amend the relevant law to extend the deadline for the sale of shares of Japan Post and Tokyo Metro, stipulated by the Reconstruction Funds Restriction Law, to 2022 by five years until 2027. It was decided by the Japanese Cabinet and submitted to the Diet now.
The government plans to secure a gain on the sale of Japan Post's shares of approximately ¥ 4 trillion, and has gained approximately ¥ 2.8 trillion in two sales so far.
However, Japan Post's stock price has been sluggish due to improper sales of Japan Post Insurance, and the timing of the third sale is uncertain.
For this reason, the government has decided to re-examine the timing of the sale, etc., based on the management and stock price of the Japan Post Group.