Deals

Scandal May Delay $10 Billion Share Sale in Japan

Government may need to delay final tranche sale: analyst Lundy
Share decline has made valuation attractive: Ichiyoshi’s Akino

Images of Japan Post As Japan's Government to Sell $12 Billion of Japan Post Shares — Photographer: Shiho Fukada/Bloomberg

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By Min-Jeong Lee, Shingo Kawamoto, and Emi Urabe

July 23, 2019 at 3:12 AM UTC

Updated on

July 23, 2019 at 6:54 AM UTC

This article is for subscribers only.

The government’s plan to sell over $10 billion worth of shares in Japan Post Holdings Co. has been clouded by a scandal at its insurance unit.

The subsidiary, Japan Post Insurance Co., is voluntarily refraining from active product sales amid allegations of inappropriate sales practices. Both stocks have tumbled and concerns have grown over demand for the 1.06 billion shares Japan is looking to sell as early as September.