The Japanese government plans an initial public offering to investors of parts of venerable Japan Post, with the proceeds to be used for rebuilding areas devastated by the earthquake, tsunami and subsequent Fukushima nuclear disaster on Mar 11, 2011.
Britain's Financial Times newspaper describes it as one of the biggest share offerings in history. Tokyo is relying on various asset sales and tax hikes for its general disaster reconstruction spending through Mar 2016.
Japan Post is 140 years old, and Britain's Guardian describes it as a much-loved Japanese national institution.
The holding company, one of the world's largest financial bodies, and two of its four subsidiaries -- tasked with banking and insurance -- will be opened to investors. The holding company will continue to manage postal services and mail delivery, then will gradually divest itself of its interests in banking and insurance until it owns only 50 per cent of the whole.
Date written/update: 2015-09-23