Japan Post Holdings on its way to Stock Exchange
Government-owned Japan Post Holdings is heading for the stock market. Together with its financial units Japan Post Bank and Japan Post Insurance it has submitted formal applications to be listed at the Tokyo Stock Exchange. With the applications likely to be approved, the initial public offering (IPO) is expected around November 4th.
The IPO will mean that Japan Post Holdings (nihon yuusei kabushiki kaisha) will disappear from the public procurement framework. As a privately owned company, it is no longer bound to regulations determining government procurement. According to Japanese government statistics, cited in its annual reports on government procurement, Japan Post Holdings was one of the largest procurers of goods and services, surpassed only by the National University Corporation (combined national universities and colleges). In 2013, Japan Post Holdings accounted for more than 13% of total value of government procurement of goods and services and for more than 9% of all tender calls.
Source: Nikkei Asian Review, “3 Japanese postal companies eye November listing” (August 14, 2015)
