Provisional Translation

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


(Tuesday, February 4, 2020, 8:39 am to 8:41 am)

[Questions and answers:]


My question is related to the Japan Post Group. At the end of last week, it was newly revealed that another 60,000 customers may have suffered detriment from improper insurance sales practices by Japan Post Insurance and Japan Post. The number of contracts targeted by the investigation may rise to 220,000. The FSA and the Ministry of Internal Affairs and Communications took administrate measures for the suspension of new sales of insurance products for three months starting on January 1. The barrier to restarting sales in April is believed to have become much higher. I’d like to ask how you think the additions to the investigation will impact the relaunch of sales, and also hear your forecast for the relaunch of sales.


At the end of last year, the FSA issued a business improvement order, and on January 31, a business improvement plan that includes the Japan Post Group’s additional investigations was submitted. Accordingly, the Japan Post Group must quickly, precisely execute that improvement plan, and make efforts to respond to customers suffering detriment and ensure appropriate business management. Therefore, we’d like the Japan Post Group to make a judgement regarding the relaunch of the sales business based on their progress with the improvement plan. The FSA will monitor the response of the Japan Post Group so that the improvement plan will be properly executed.

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