The Postal Services Agency on Tuesday became Japan Post, a huge public corporation that will operate on a self-sufficient basis.

Masaharu Ikuta, president of the new entity, pledged in a speech to make the new entity profitable ahead of schedule.

"I believe that reform of businesses should be done intensively and quickly," he told some 1,300 Japan Post employees. "Pain and troubles will grow in the short-term, but we will achieve positive results."