As Japan Post Bank Co. prepares for an initial public offering and poses increased competition to regional banks, they are willing to do business with the state-owned company — on one condition.
A ruling party proposal to raise the ¥10 million cap on how much money each depositor can hold at Japan Post Bank must be withdrawn, Tatsumaro Terazawa, chairman of the Regional Banks Association of Japan, said in an interview.
"We won't even be sitting down at the table while this talk about the deposit limit continues," said Terazawa, 68, who is also president of Bank of Yokohama Ltd.