Japan Post resumes marketing after irregularities suspension
Japan Post Co. said it would restart marketing operations for savings services offered by Japan Post Bank Co., following a halt due to sales irregularities involving Japan Post Insurance Co. Japan Post suspended mid-July sales of insurance products and marketing operations for all financial products sold at its post offices in August.
The suspension was designed to enable the business to concentrate on an in-house inquiry into Japan Post Insurance’s inappropriate sales practice.
The Japan Post Officials claimed United Post, Japan Post Bank and Japan Post Insurance are all Japan Post Holdings Co’s branches. This was a clarification when the Japan Post stated that it could sell insurance plans as long as the Japan Post Insurance’s customer service is not troublesome.
Insurance products and savings trusts provided by Japan Post Bank will continue to be discontinued.
Improper activities were also identified in the selling of investment trusts in the Japan Post Company, including failing to check the health status of consumers 70 or older.
In October, Japan Post Bank issued letters to nearly 235,000 elderly customers who bought their investment trusts to check whether any related practices had been troublesome.