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Aso willing to review split-up of postal services+(Japan Economic Newswire Via Acquire Media NewsEdge) TOKYO, Feb. 5_(Kyodo) _ Prime Minister Taro Aso said Thursday he is willing to review a planned four-way split of Japan's postal services being considered under the postal privatization initiatives launched by former Prime Minister Junichiro Koizumi. "I suppose it is time to review once again whether splitting (the postal services) into four (companies) is really good in terms of efficiency," Aso told the House of Representatives Budget Committee. "After they are privatized, a system which does not make profits won't work...I think it is right to say we will improve it rather than review it," Aso said. The government started a 10-year postal privatization process in October 2007 by creating Japan Post as the holding company of four business units. The holding company, which is wholly owned by the government, is scheduled to reduce gradually its stakes in two of the four companies -- Japan Post Bank and Japan Post Insurance Co. -- to zero by September 2017, according to legislation for postal privatization. In November last year, Aso expressed his intention to review the postal privatization plan and the ruling Liberal Democratic Party has set up a project team to study the matter. Copyright ? 2009 Kyodo News International, Inc. |