Japan launches $12 billion follow-up sale of Japan Post shares
Japan Post, with a network of 24,000 post offices and workforce of 400,000 people, has been hurt by a constant decline in mail delivery volume.
Its two financial units Japan Post Bank and Japan Post Insurance have been hurt by the nation’s ultra-low interest rate environment.
The sale - the first since its postal and financial giant’s mammoth IPO in 2015 which also raised about $12 billion - also comes in the wake of M&A missteps. ■