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Concerns about corporate governance and falling stock prices make it difficult to sell the third and last tranche of shares, the agency said. The timing of the sale of shares for the next fiscal year remains unclear, they noted.
Japan's financial regulator is considering penalties for the postal group after reporting misconduct when selling insurance policies.
A spokesman for the Japanese Ministry of Finance said no decision had been made to suspend the stock sale plan.
The Ministry of Finance’s earlier plan to sell up to 1.06 billion shares was already overshadowed in September when it became clear that Japan Post Insurance Co. customers may be in a worse situation after switching to new rules recommended by sellers.
The government intends to receive 4 trillion yen ($ 36.6 billion) from the sale of shares of Japan Post Holdings by the fiscal year ending in March 2023.
In 2015, the Japanese government placed shares in Japan Post, as well as the banking and insurance divisions of the company. This deal raised 1.4 trillion yen.
After almost two years, authorities continued to privatize the giant of postal and financial services, partly to finance the reconstruction of areas in the north-east of the country affected by the earthquake and tsunami in March 2011.
In the first two rounds of the sale of shares, about 2.8 trillion yen was raised. Shares of Japan Post Holdings fell this year by about 19%.
source: bloomberg.com
Japan's financial regulator is considering penalties for the postal group after reporting misconduct when selling insurance policies.
A spokesman for the Japanese Ministry of Finance said no decision had been made to suspend the stock sale plan.
The Ministry of Finance’s earlier plan to sell up to 1.06 billion shares was already overshadowed in September when it became clear that Japan Post Insurance Co. customers may be in a worse situation after switching to new rules recommended by sellers.
The government intends to receive 4 trillion yen ($ 36.6 billion) from the sale of shares of Japan Post Holdings by the fiscal year ending in March 2023.
In 2015, the Japanese government placed shares in Japan Post, as well as the banking and insurance divisions of the company. This deal raised 1.4 trillion yen.
After almost two years, authorities continued to privatize the giant of postal and financial services, partly to finance the reconstruction of areas in the north-east of the country affected by the earthquake and tsunami in March 2011.
In the first two rounds of the sale of shares, about 2.8 trillion yen was raised. Shares of Japan Post Holdings fell this year by about 19%.
source: bloomberg.com