Chairman's Comments on Sale of Investment Trusts by Japan Post

Today, the Government through a Cabinet meeting approved the "Bill concerning Exceptional Treatment of Businesses of Japan Post for Handling the Subscription of Beneficiary Certificates of Securities Investment Trusts by Japan Post," enabling Japan Post to sell investment trusts.Although "enabling Japan Post to sell investment trusts" was stated in the "Basic Policy on the Privatization of the Japan Post," which was approved at an earlier date by the Cabinet, it is very regrettable that legislation leading to the business expansion of Japan Post prior to its privatization is proceeding while a concrete plan for privatizing Postal Services is being deliberated.Once again we demand that fair competitive conditions with private financial institutions be established, and also the soundness of regional finance be maintained, through both preparatory and migratory periods for privatizing Postal Services.