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Japan Post was formed on 1 October 2007 after the privatisation of its predecessor, Japan Post. On October 1, 2012, Japan Post Network was merged with Japan Post Service to form Japan Post Co., Ltd. .
The major concern was Japan Post, with government backing, stymieing competition and giving politicians access to postal savings to fund pet projects. [2] Japan Post was split into three companies in 2007, intending to be privatized by 2017. [2] Following privatization, Japan Post Holdings operate the postal business.
Since 2007, the nation's post offices have been managed by the firm Japan Post Network, which, in turn, is a part of the larger Japan Post Holdings conglomerate. As of December 2017, the smaller company has been managed by CEO Koji Furukawa. [6] The simple Japanese postal mark, predating mass literacy in the nation, is still used to this day.
Yucho (ゆうちょ, Yūcho) is an interbank network in Japan, owned and operated by the postal savings division of Japan Post Bank. It counts some 26,519 ATMs, of which 23,500 are at post offices and 2,869 are away from post offices. The number of ATMs correspond to about one for every post office in Japan, excluding a few post offices that ...
The outside of a Japan Post Bank branch in Akita, Japan. In 2019, Japan Post Bank was managing ¥205 trillion of assets. It oversaw approximately 120 million customer accounts, who had access to services in almost 24,000 branches across Japan, most of which are contracted post offices officially belonging to the Japan Post Service. [2]
At the end of 2019, the government had a 57% ownership stake in Japan Post Holdings, [24] which still owns 90% of Japan Post Bank and Japan Post Insurance. [25] [26] In April 2021, Japan Post Holdings agreed to sell part of its unprofitable Australian logistics company Toll Holdings for only 7.8 million Australian dollars. [27]
Japan Post Network Co., Ltd. (郵便局株式会社, Yū-bin Kyoku Kabushiki-gaisha), was a Japanese company which operated the post office of Japan. It was part of the Japan Post Holdings group. History