New Japan Post Chief Vows to Restore Trust after Scandal

Politics

Tokyo, Jan. 6 (Jiji Press)--Japan Post Holdings Co.'s <6178> new chief vowed Monday to make all-out efforts to restore trust after the group was rocked by a scandal over improper sales of life insurance products.

The Japan Post group faces "the biggest crisis in its history," Hiroya Masuda, new president and chief executive officer at the holding company, said in a New Year's speech at a group meeting.

Masuda showed his determination to uncover the full scope of the scandal at an early date and address disadvantages inflicted on customers.

"We have to take measures to prevent similar irregularities from taking place again and regain trust step by step," said Masuda, who took the helm of the embattled group on Monday.

Masuda was internal affairs minister when the country's postal services were privatized in October 2007. He served as chairman of the government's postal privatization committee for some three years from 2013.

[Copyright The Jiji Press, Ltd.]

Jiji Press