Japan Post Likely to Scrap FY 2019 Insurance Sales Quotas

Politics Economy

Tokyo, July 28 (Jiji Press)--Japan Post Co. is planning to scrap sales quotas assigned to post office workers for products of Japan Post Insurance Co. <7181> in fiscal 2019, which ends next March, it was learned Sunday.

Japan Post hopes to put priority on dealing with customers who have been placed at a disadvantage due to inappropriate sales practices involving such products at post offices, informed sources said.

Leaders of Japan Post Holdings Co. <6178> will explain the plans at a news conference on Wednesday.

It has not been decided yet whether sales quotas will be assigned in and after fiscal 2020, according to the sources.

Japan Post sells on commission products of Japan Post Insurance including endowment insurance through its network of about 20,000 post offices nationwide.

[Copyright The Jiji Press, Ltd.]

Jiji Press