A new joint stock company set up by Japan Post began operations Monday in the leadup to privatization, which is scheduled to begin in October 2007.
The new company will become a holding company Oct. 1, 2007, the first step in a 10-year privatization process under which the public corporation will be split into four business units.
The newly established firm is now focused on developing plans to manage its 260,000 employees and assets, and on possible business models for the four operating companies.