Gov't to sell 1 tril. yen tranche of Japan Post shares

Politics Economy

The Japanese government said Wednesday it will sell by early November a 1 trillion yen ($9.0 billion) tranche of shares in Japan Post Holdings Co., a postal and financial services group privatized 14 years ago. The Finance Ministry said the proceeds from the share sale, which will lower the government's stake from 60.6 percent to 33.3 percent, will finance reconstruction work in northeastern Japan areas devastated by the March 2011 earthquake and tsunami. The government has so far sold about 3 trillion yen of the postal group's shares since 2015 as part of its plan to raise 4 trillion yen for ...

Kyodo News

Kyodo News