The story
History
The company was founded on 23 January 2006, although it was not until October 2007 that it took over the functions of Japan Post.
There were plans to fully privatize the company, but were subsequently put on hold. As of 2013, it ranked thirteenth in the Fortune Global 500 list of the world's largest companies.
On April 25, 2017, Japan Post Holdings said it would have a ¥40bn ($360m) loss for its first full financial year as a listed company, due to losses from Toll Group, which it controversially acquired in 2015.
In September 2017, the Japanese government announced its sale of $12 billion worth of Japan Post Holdings Co. Ltd. stock. It was the first sale since the 2015 IPO of the postal company and its two units, Japan Post Bank Co. Ltd. and Japan Post Insurance Co. Ltd.. That sale also raised $12 billion, which was used for the repair and reconstruction of places that were destroyed by an earthquake and tsunami in 2011.
In December 2019, the heads of Japan Post Holdings announced that they will resign over the improper sales of insurance policies, after the regulator announced administrative punishments against the companies. The company said that Hiroya Masuda, a former minister of Internal Affairs and Communications, has been appointed as successor to current CEO Masatsugu Nagato.
In March 2021, Japan Post Holdings announced that it would invest 150 billion yen or US$1.38 billion and take a 8 percent stake in internet conglomerate Rakuten.
2005 plan for privatization
The Postal Privatization Law passed in 2005 laid out a framework for a preparation phase, a ten-year transition phase that was revised to start on October 1, 2007, and a post-privatization phase to organize the companies into their final forms. A Cabinet-level Postal Privatization Headquarters would be established to develop and implementation plan to manage privatization and divide the resources of Japan Post between the successor companies.
Japan Post Holdings was to start as a state-owned holding company for Japan Post Bank, Japan Post Insurance, Japan Post Network, and Japan Post Service and gradually sell off its shares through 2017. The original plan was for the government to retain about a one-third ownership share of Japan Post Holdings, and for Japan Post Holdings to sell all its shares in its banking and insurance subsidiaries. Proceeds from the sale were to be used to reduce government debt.
From Wikipedia’s article on Japan Post Holdings, shared under CC BY-SA 4.0.6
