Japan Post reform provisions accepted by Koizumi
A few nights ago, Atsushi reminded me in our nightly conversation that the property tax was due by the end of the month. Monday’s a day off for me, so I figured that while I was heading to the post office anyway, I may as well mail some other stuff: I took care of a friend’s wedding present, letter to my grandfather, few other things. Need I tell you what, when I was halfway out the door and feeling all smug and accomplished, I realized I’d forgotten to do? Personally, I blame the fact that Japan Post hasn’t yet been privatized. After all, a private corporation accountable to its customers would develop an array of services more responsive to their needs and…uh…thus…you know, more…memorable. (Don’t worry, A., I went back in and paid it.)
Anyway, the privatization bill is still being haggled over. Latest news is:
On the evening of 28 June, the LDP agreed to a review of the Japan Post privatization bill that included the revision of 4 items. The central revision was that, as one of the functions the window-services corporation will be allowed to perform, “the work of a bank or insurance agency” is given as an example. Prime Minister Jun’ichiro Koizumi assented to the revision. In accepting this resolution, which had been a sticking point through the debate over revisions, the LDP executive body aims to see the bill passed by the Lower House by the beginning of July. Opposition to the bill is still deep-rooted even among some in the party, however, so there are still many issues that stand in the way of its approval.
This is the same Koizumi who was saying yesterday that he would accept no revisions; he said tonight that his position had not changed. Okay, whatever you say. Perhaps the new provisions don’t strike him as neutering the reforms. Along those lines, it remains unclear whether mochiai (mutual shareholding) will be explicitly permitted; some in the LDP were pushing for such a provision yesterday.