TOKYO - The tiny Shirogane post office in a quiet Tokyo neighborhood, with just three clerks and one ATM, might seem far removed from the world of global finance. But when Japan Post is privatized Monday, the office will become part of the world's biggest commercial bank - with assets of $3.03 trillion - in a move intended to inject competition into Japan's banking sector.
TOKYO - Prime Minister Junichiro Koizumi urged voters to back privatization of Japan's postal service while his rival attacked the plan Saturday, wrapping up a dramatic campaign for parliamentary elections expected to deliver victory to the ruling party. The ballot today for the 480-seat lower house of parliament was widely seen the way Koizumi had portrayed it: as a referendum for his project to split up and sell Japan Post's mail, insurance and savings services, creating the world's largest private bank.
Japan Post is the world's largest insurer, according to AM Best's new ranking of the World's Largest Insurers based on total, non-banking assets at the end of 2008. Japan Post's more than $1 trillion in assets are all related to life products. Three of the top 20 insurers hail from Japan, but Continental Europe boasts nine players on the list, with three in France, two each in Germany and the Netherlands, and one each from Italy and Switzerland. The UK is home to three more of the top 20. Economic and political factors may lead to changes in the rankings. The Top 20 global insurance organizations ranked by AM Best Co, based on 2008 total non-banking assets include: 1. Japan Post Insurance Co Ltd, 2. Axa SA, 3. American International Group Inc, 4. Allianz Societas Europaea, 5. Assicurazi...
TOKYO Stung by defeat on a cherished economic reform, Prime Minister Junichiro Koizumi will lead a bruised and fractured ruling party into elections next month amid the prospect of being ousted from power after almost 50 years of uninterrupted rule. Privatizing the post office's staggeringly rich savings account system has been a decade-long quest for Koizumi. But bills to break up Japan Post and create the world's biggest bank were rejected by Parliament's upper house Monday with the help of defectors from his own Liberal Democratic Party.
... Co., Japan Post Network Co., Japan Post Bank Co., and Japan Post Insurance Co. The privatizatio...
To: NATIONAL EDITORS Contact: Jack Dolan, ACLI, +1-202-624-2418, jackdolan@acli.com
... between the Japan Post entities and private banks, insurers, and delivery companies and to refrain f...
NEW YORK (Reuters) - Wall Street banks are likely to post weak trading profits for the first quarter, after zig-zagging markets caught traders by surprise and prompted many investors to remain on the sidelines. Analysts are slashing their estimates for first-quarter bank earnings in part because of a rough trading environment. Many traders were surprised by movements in multiple markets, including a surge in oil prices because of political unrest in the Middle East, and a jump in the yen after Japan's earthquake and tsunami.
...(AIG) announced today that Japan Post Bank Co., Ltd., and Japan Post Network Co., Ltd., both ...
...- JCB. - Credit Saison. - Japan Post Bank. - Sumitomo Mitsui Banking Corporation. - J-D...
... to answer the questions on the wall and post additional information about that topic in case ot..."A recent example would be our Japan Fund initiative, in which we set up a special acco...
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