Provisional Translation

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


(Monday, February 10, 2020, 9:47 am to 9:52 am)

[Questions and answers:]


I understand that a proposed legal revision related to extending the deadline for the sale of the government’s shares in Japan Post Holdings by five years is being submitted at the current session of the Diet. At present, they are being forced into additional investigations into the issue of unfair practices at Japan Post Insurance, the relaunch of the insurance business is nowhere in sight, and they have no growth strategy. I’d like to ask you what is the purpose of a five-year extension and what is necessary to acquire market valuation?


Regarding this issue, based on the basic policy of after the end of Reconstruction and Revitalization Period determined in the December cabinet decision, it was considered desirable that a partial amendment to laws related to reconstruction be presented at this ordinary session of the diet, I believe, but this bill is in the middle of adjustments as we aim for a cabinet decision in early March, and therefore I am not able to comment on the contents thereof. Going forward, I think it is important that Japan Post Group make efforts to first quickly and appropriately execute their improvement plan, respond to the customers suffering detriment, and set in place appropriate business management. In any case, regarding the actual period for the sale of shares in Japan Post Holdings, it is difficult to make a statement without looking at the movement of the markets and other factors, including the management situation, and we will carefully consider this matter going forward.

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