3,300 Japan Post group officials punished

Japan Post Holdings has punished more employees of its group firms over improper insurance policy sales practices, bringing the total number of punished employees to 3,300.

In 2019, an internal investigation of the firm found that it sold more than 1,200 insurance policies to the disadvantage of clients. The sales were suspected of violating a law and in-house rules.

By last November, the company had punished about 2,000 officials of its group firms -- Japan Post and Japan Post Insurance.

Sources close to the matter said about 1,300 more officials have since been suspended from duty or had their salary cut.
Japan Post deals with the sales of the policies in question. It says it plans to replace all the heads of its 13 regional headquarters and resume sales activities next month. It has also voluntarily suspended insurance policy sales operations.

The heads of Japan Post and Japan Post Insurance are to speak to reporters on Wednesday.