Japan Post Holdings President Yoshifumi Nishikawa announced Tuesday he intends to resign amid mounting pressure from the Democratic Party of Japan-led administration.

Nishikawa said he will submit his letter of resignation Oct. 28, when Japan Post holds a board meeting.

He told reporters at the holding company's headquarters that there is a big difference between what he has already done and intends to do for the privatization of the Japan Post group and the new government's policy.