Unrealized losses incurred in securities investment management of postal savings and insurance funds came to 9.03 trillion yen in fiscal 2002, the posts ministry said Friday.
To make up for the losses, 2 trillion yen had been tapped from the postal insurance reserve fund and other funds, according to financial statements of the defunct Postal Services Agency that were released by the Ministry of Public Management, Home Affairs, Posts and Telecommunications.
The agency was transformed into Japan Post, a public corporation, on April 1. Japan Post took over the three services of mail delivery, postal savings and “kampo” life insurance.
In a time of both misinformation and too much information, quality journalism is more crucial than ever.
By subscribing, you can help us get the story right.