8. JAPAN POST BANK Co Ltd (株式会社ゆうちょ銀行)

8. JAPAN POST BANK Co Ltd (株式会社ゆうちょ銀行)

"Reliable bank that is readily available with customers" is the Japan Post Bank's aim and philosophy. In 1875, the postal savings was introduced into Japan and operated as a government department until the postal service became privatization under the era of Prime Minister Junichiro Koizumi. Bank was established on 1st of September 2006 as part of the Japan Post Holdings.

In November 2008, Japan Post Bank became the world's biggest deposit holder and offered a nationwide ATM network which can be used to withdraw money with international bank cards and credit cards in Japan.

Before 2009, Japan Post Bank wasn't connected to the Japanese Bankers Association (Zenginkyo) payment processing network which enabled to wire money directly between Japan Post and most other Japanese banks. Japan Bank joined into Japanese Bankers Association in January 2009 and became a full JBA member in October 2011.

Type

Government-owned corporation

Industry

Banking

Founded

1 September 2006

Headquarters

Chiyoda, Tokyo, Japan

Key people

Yoshiyuki Izawa (Chairman and CEO)

Syokichi Takagi (President and COO) 

Total assets

JPY 196 trillion (March 31, 2012)

Total equity

JPY 9.8 trillion (March 31, 2012)

Employees

12,963 (2014) 

Parent

Japan Post Holding Co., Ltd.

Overseas representative office

Europe, Middle East and Africa - United Kingdom

Asia and Pacific - Hong Kong

Japan Post Group

JP Post - http://www.post.japanpost.jp/english/

JP Insurance - http://www.jp-life.japanpost.jp/en/index.html

JP Bank - http://www.jp-bank.japanpost.jp/en_index.html

Corporate Governance

1. JAPAN POST BANK will be a company with committees, and establish the nomination, audit and compensation committees. Under the management meeting, it will also set up special committees, such as the risk management committee, the compliance committee and the ALM committee.
2. JAPAN POST BANK will establish the inspection & audit department that is independent from departments to be audited, and this department will support the audit committee.
3. JAPAN POST BANK will introduce the “integrated risk management” method, as well as the RCSA method against operational risks to implement quantitative and qualitative risk management according to risk characteristics.
4. JAPAN POST BANK will establish a compliance supervisory office, where compliance officers will be assigned. It will also post personnel in charge of compliance at each office.
5. JAPAN POST BANK will reinforce the system for managing and supervising the agent (JAPAN POST).