Japan Post and Postal Services Agency Guide, Meaning , Facts, Information and Description
Japan Post (日本郵政公社) is a dominant postal and package delivery company in Japan. It was once Postal Services Agency (郵政省; '\'yuuseisho''), a division of the Japanese government.The company was born on April 2, 2003 as public corporation from the Postal Services Agency, which was part of the current Prime Minister Junichiro Koizumi's reform plans. As of 2003, the president of the company is Masaharu Ikuta, formerly chairman of Mitsui O.S.K. Lines Ltd. It has 280,504 employees and runs 24,700 post offices throughtout Japan.
And it's more than a postal service, its banking unit holds ¥224 trillion ($2.1 trillion) of household assets in its yu-cho savings accounts, and its insurance unit holds ¥126 trillion ($1.2 trillion) of household assets in its kampo life insurance services as of 2003. Household assets in Japan was ¥1,400 trillion ($13.1 trillion) in 2003, while US household assets was $30.4 trillion ([1]).
The privalization of the company, particularly its postal services division is a decade-long political matter in Japan. Quite a number of people, including Junichiro Koizumi, back the plan while there are strong political oppositions within both of largest partities, LDP and DPJ to it.
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