Japan Post Units Vow to Correct Excessive Sales Quotas

Society Lifestyle Economy

Tokyo, July 10 (Jiji Press)--Japan Post Insurance Co. <7181> and Japan Post Co. vowed on Wednesday to correct excessive sales quotas for their personnel, in response to some 93,000 recently revealed cases of inappropriate insurance sales.

The two companies said that with their parent, Japan Post Holdings Co. <6178>, they will soon set up a third-party panel to investigate the cases while monitoring the implementation of relief measures for affected customers.

The Japan Post units will start a review of how they set sales targets in August or later, while being advised by the third-party panel.

At a press conference, Japan Post Insurance President and Chief Executive Officer Mitsuhiko Uehira apologized for harming the interests of many customers.

"We failed to conduct customer-centered operations," Japan Post President and CEO Kunio Yokoyama said.

[Copyright The Jiji Press, Ltd.]

Jiji Press