Japan’s new government is poised to submit legislation to halt the scheduled initial public offerings of Japan Post Bank, the world’s largest bank by deposits, and its sister insurance company, according to the financial services minister.
The privatisation of the 138-year-old Japan Post was one of the landmark reforms pushed through by Junichiro Koizumi during his 2001-2006 premiership. It broke it up into four separate units and envisioned their sale to stock market investors as early as next year.
