Summary
The Yomiuri Shimbun reports the imminent resignation of Japan Post Holdings President Yoshifumi Nishikawa following his meeting yesterday with State Minister for Postal Services and Financial Affairs Hon. Shizuka Kamei.
Analysis
Citing multiple sources, Yomiuri reports that Nishikawa intends to resign before the end of the month, when the DPJ-led government plans to introduce legislation freezing the sale of government held shares in the postal, savings and insurance behemoth. Separately, Nikkei reports on government plans to require Japan Post, which manages the world's largest savings and insurance schemes, to continue providing universal access to such financial services. The developments are viewed as a major blow to the postal privatization initiative implemented by former Prime Minister Jun'ichiro Koizumi designed to foster a level playing field for competition with the private sector.
