Japan Post to Resume Marketing of Savings Products

Economy Politics

Tokyo, Nov. 20 (Jiji Press)--Japan Post Co. said Wednesday that it will resume marketing activities for savings products offered by Japan Post Bank <7182> on Monday, following a suspension due to sales irregularities involving Japan Post Insurance Co. <7181>.

Japan Post has suspended sales of insurance products since mid-July and marketing activities for all financial products sold at its post offices since August.

The suspension is designed to focus on an in-house investigation into inappropriate sales practices by Japan Post Insurance that have harmed the interests of many policyholders.

Japan Post, Japan Post Bank and Japan Post Insurance are all subsidiaries of Japan Post Holdings Co. <6178>.

The resumption comes as Japan Post concluded that it could offer savings products as long as there is no problem with customer services by Japan Post Insurance, Japan Post officials said.

[Copyright The Jiji Press, Ltd.]

Jiji Press