January 29, 2021 Approval of the Amounts and Method of Grants and the Amounts and Collection Method of Contributions based on the Act on the Organization for Postal Savings, Postal Life Insurance and Post Office Network

On January 22, the Ministry of Internal Affairs and Communications (MIC) submitted an inquiry to the Information and Communications Administration and Postal Administration Council (chaired by TAGAYA Kazuteru, Professor Emeritus at Chiba University; hereafter referred to as the “Council”).
This inquiry is about the authorization of the amounts and method of grants, along with the amounts and collection method of contributions in response to the application of the Organization for Postal Savings, Postal Life Insurance and Post Office Network (OPPP, headed by President AMANO Fujio), based on the provisions of the Act on the Organization for Postal Savings, Postal Life Insurance and Post Office Network (Act No. 101 of 2005; hereafter referred to as the “Act”).
Today (January 29), MIC received the report from the Council, stating that it is appropriate to authorize the original plan.And based on this report, MIC approved the application from OPPP.

On November 26, 2020, the OPPP applied for approval to the Minister for Internal Affairs and Communications regarding the amounts and method of grants and the amounts and collection method of contributions in fiscal 2021 based on the Act.
Under the provisions of the Act, MIC is required to consult with the Council before approval for the application.

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