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Efficient services promised as Japan Post goes private

Date Posted: 2007-08-31

The Japan Postal Service Public Corporation goes out of business October 1st, being replaced by four private companies that will assume the responsibilities.

The Japan Postal Corporation says it will maintain the nationís postal system much as it is now, but with better, more efficient service provided to residents. It also says expanded services will be more convenient with the privatized set of four business companies.

Traditional mail services afforded by the existing Japan Post will continue under the mantel of one company. A second private company will handle the savings bank, while a third takes over the Japan Post Summary Life Insurance Company. A fourth company will be a new mail service company.

Officials say savings bank operations will continue much as they are now, with banking opportunities still available inside the post offices. With four operating companies, the savings bank will be on consignment to the post office. One change, Japan Postal Corporation executives say, is that the central government will no longer guarantee savings deposits. That responsibility shifts to the new savings bank company.

September 30th will see some interruptions in various services as the transition is made to the new operating companies. Post office ATM machines will be out of service that Sunday, but access from the internet and cash card services from convenience stores will still be working.

Japan Postal Corporation says every post office will have people available to answer questions about the changes. There are also a set of websites set up to explain the new system. Japan Post Service Public Corporation is http://www.japanpost.jp, the mail and postal services home page is http://www.post.japanpost.jp, the savings service site is http://www.yu-cha.japanpost.jp, and Summary Life Insurance address is http://www.kampo.japanpost.jp.

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