Provisional Translation

Press Conference by ASO Taro, Deputy Prime Minister, Minister of Finance, and Minister of State for Financial Services


(Tuesday, January 28, 2020, 8:39 am to 8:42 am)

[Questions and answers:]


My question is about the new management system at Japan Post Group. In an interview the other day, you mentioned that a complete change of corporate culture is very hard to achieve. New president of Japan Post Holdings MASUDA Hiroya introduced “the problem of unfair practices at Japan Post Insurance” in his New year’s address, but this term has been amended to “the problem related to product solicitation” in Japan Post Insurance’s in-house communications. There was some criticism that the company’s awareness of the unfair practices was lacking. What are your thoughts on this?


I am aware of that report. Based on administrative measures, it is of foremost importance that they are absolutely sure to respond to the customers suffering detriment and those using their services. Following that, they can work to further rebuild trust by steadily enforcing initiatives such as strengthening governance, putting preventive measures in place and training salespeople and staff going forward. It’s easier said than done. It’s no simple task to rebuild trust that’s been lost once, and I hope they will focus their best efforts on doing exactly that.

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