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On April 27, 2021, the Prime Minister held the 11th meeting of the Headquarters for the Promotion of Privatization of the Postal Services at the Prime Minister’s Office.
 
At the meeting, the opinion of the Postal Privatization Committee regarding the comprehensive review of the progress of postal privatization was reported. The report on the opinion of the Postal Privatization Committee regarding the comprehensive review of the progress of postal privatization was approved.
 
Based on today’s report and approval, the Prime Minister said,
 
 “The privatization of the postal services has made steady progress, as 13 years have passed since we privatized the postal services and five years have passed since the public listing. On the other hand, we face a number of challenges, including the scandal of improper sales practices by Japan Post Insurance, while interest rates remain extremely low and the adoption of ICT for economic activities continues.
 
The Postal Privatization Committee put forward proposals in its opinion today, including establishing an integrated business model for Japan Post Group’s growth, strengthening governance through such measures as the eradication of sectionalism in the organization, the sharing of a customer-centered philosophy, and thorough risk management, growing its e-commerce business by making investments in IT and logistics networks while taking advantage of the network of physical post offices, in addition to proposals on respective initiatives by Japan Post, Japan Post Bank, and Japan Post Insurance.
 
Based on these opinions, we expect Japan Post Group to overcome its current severe financial condition and to take a further step forward in the privatization of the postal services. I would like to ask the relevant ministers to continue to make steady efforts to support its moves."