Bowing to calls to resign, most adamantly by Shizuka Kamei, state minister in charge of postal services, charismatic former banker Yoshifumi Nishikawa officially stepped down Wednesday as president of Japan Post Holdings Co. and was replaced by former Vice Finance Minister Jiro Saito.
Experts say replacing Nishikawa is a turning point in the long-troubled postal privatization process.
Why is the Democratic Party of Japan-led government trying to overturn the privatization scheme, and why was it going to be privatized in the first place?