The Japan Post group was reorganized on Oct. 1 under the revised postal privatization law that was enacted in the last Diet session. The main aim of the revision is to boost business by increasing convenience for customers. In a difficult business environment, the Japan Post group must strive to improve its profitability so it can provide better services.
As a result of the Japan Post privatization plan pushed by the Koizumi administration, the Japan Post group was organized into five companies, with Japan Post Holding having under its wing the Japan Post Service (mail delivery), Japan Post Network (counter services at post offices), Japan Post Insurance and Japan Post Bank.
Although the counter-services company was entrusted by the insurance company and the bank with selling financial instruments and handling banking services, mail carriers were prohibited from conducting insurance and banking services because they were not employees of the counter-services company.