Postal service and financial services firm Japan Post intends to establish a private equity subsidiary, Reuters reported yesterday.
Founded by the Japanese government in 2003 to replace the country’s Postal Services Agency, Japan Post provides financial and insurance services alongside post and package delivery.
The firm went public earlier this month, raising almost $12bn in the biggest initial public offering since China-based e-commerce firm Alibaba in September 2014.
Japan Post, which manages about ¥205 trillion ($1.66 trillion) in government bonds, will establish the Private Equity Investment Department on December 1. The firm has not revealed the size of the investments it plans to make through the unit nor the areas in which it will invest.