The financial watchdog is considering imposing a three-month suspension of new sales of insurance products at two subsidiaries of the former state-owned postal services group, sources close to the matter said Saturday.
The suspension would be slapped on Japan Post Insurance Co. and Japan Post Co. over improper sales of insurance products for years.
The Financial Services Agency, which concluded a three-month investigation in mid-December, will announce an administrative penalty for the two units, suspected of violating the insurance business law, on Friday after it receives a report from parent Japan Post Holdings Co. early next week, according to the sources.