1,447 Workers Sold Japan Post Insurance Products Improperly

Economy Politics

Tokyo, Feb. 27 (Jiji Press)--The Japan Post Holdings Co. <6178> group said Thursday that it has confirmed improper sales practices for Japan Post Insurance Co. <7181> products by 1,447 post office workers.

An in-house investigation conducted through Feb. 19 also found a total of 1,761 violations of law or internal rules by the sales clerks.

Besides these, similar violations are suspected for 6,690 contracts, so the number of violators is expected to rise further. The group will consider disciplinary action later.

For fiscal 2020, no sales targets will be set for insurance, investment trust funds or other financial products sold at post offices, Hiroya Masuda, president and chief executive officer of the holdings company, told a news conference.

This is because the group needs to prioritize relief measures for affected insurance policyholders, he said.

[Copyright The Jiji Press, Ltd.]

Jiji Press