The Cabinet this week decided to revamp the two-year-old privatization process for Japan Post group. The decision, which responds to fears among some people that Japan Post group may curtail services in the countryside, emphasizes the public role of Japan Post group.
The privatization begun on Oct. 1, 2007, was aimed at making Japan’s postal services, including banking and insurance services, more efficient; ending the practice of using funds deposited in postal savings accounts for wasteful government projects; and, instead, increasing the flow of those funds to the private sector.
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