Financial Services Agency to Scrutinize Break-up of Japan Post

Posted by Bill Belew on June 9th, 2010 in Japan | Comments Off

Japan Post is going to break up next year. Somebody, the Financial Services Ageny, needs to keep an eye on it.

Japan Post will be broken up into four entities. Two of those entities will immediately become the largest in their industry.

The Yucho Bank is expected to have 277 trillion yen ($2.4 trillion) in assets from the get go, bigger than Mistubishi UFJ Financial Group’s 187 trillion yen.financial watchdog.jpg

The Kampo Insurer will have assets of 114 trillion yen ($980 billion), more than double that of the current industry leader, Nippon Life Insurance.

FSA wants more officials and inspectors. The Internal Affairs Ministry is balking because they want goverment agencies streamlined.

I don’t know….but somebody…make that somebodies is going to have to keep an eye on all those zeroes. Elsewise, there is plenty of potential for foul play.

What do you think?


 

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