JapanÆs Ministry of Posts and Telecommunications is like an oil tanker humungous, and unable to quickly change direction. But once it sets on a course, it is unstoppable. All the smaller boats in its way had better move or get crushed.
Therefore it was with dismay that foreign asset managers û mere fishing boats û realized the oil tanker is headed their way. The MPT set a course to dominate JapanÆs defined contribution pension business.
The MPT has a longstanding role of offering financial products, particularly insurance and bank deposits. Many rural areas lack bank branches but every village has a post office. Yucho, the postal savings system, and Kampo, the postal life office,...
