Problems Seen with 10,000 Japan Post Insurance Policies

Economy Politics

Tokyo, Dec. 15 (Jiji Press)--The Japan Post group is likely to have violated the law or internal rules in the processes of selling about 10,000 insurance contracts, informed sources said Sunday.

The number is far bigger than 6,327 contracts announced in September in an interim report on the group's inappropriate sales practices.

Japan Post Holdings Co. <6178>, along with subsidiary Japan Post Insurance Co. <7181> and mail delivery unit Japan Post Co., is set to release the final report on the matter Wednesday.

The Financial Services Agency and internal affairs ministry are expected to hand out administrative punishment within the month after examining the report.

The focus is whether group leaders, such as Japan Post Holdings President Masatsugu Nagato, will resign.

[Copyright The Jiji Press, Ltd.]

Jiji Press