business

Japan Post CEO may resign after 12,836 improper insurance sales uncovered

15 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© KYODO

©2020 GPlusMedia Inc.

15 Comments
Login to comment

"May" resign? Lock the dude up! If there was ever "public trust" case, this is it! But then again, they would have to lock up a hell of a lot of other people too!

9 ( +9 / -0 )

never understood the 'resign to take responsibility' thing. be more responsible to stay and sort out whatever mess there is, I always think.

in this case, he'll probably just voluntarily take a 10% cut in his salary for 3 months, that should fix it. (⌒▽⌒)

6 ( +7 / -1 )

he is considering resigning in the wake of a probe that uncovered more than 12,000 cases of suspected improper sales of insurance products at two subsidiaries in the five years through March 2019.

He still free? No detention? How about risk destroying evidence from others media outlet it is mentioned this activity involve document forgery.

6 ( +6 / -0 )

Corporate governance is this country is basically non-existant. There should be policy and guidelines in place for when this kind of bamboozle happens. Automatic termination with fines/penalties and a full-blown criminal investigation. It’s not the perp’s choice whether to resign or not. Good grief!

8 ( +8 / -0 )

Might resign? He should be facing criminal charges of fraud along with all the others involved.

4 ( +5 / -1 )

I might resign but I might not. I’ll have a look through the details and see if there’s any way I can put the blame on others or concoct some flimsy excuse for what happened. Hopefully I’ll be able to just give 10% of my salary for a few months to take responsibility for what’s happened. I’ll makenthat back and more in my end of year bonus, so fingers crossed it’ll work out in the end.

2 ( +2 / -0 )

The newly privatized organization perhaps didn't have it hammered into it that fleecing people of their money would not a sustainable (nor good and righteous, more importantly) way of doing business. If I were a shareholder, I'd be furious with this (and kicking myself for being a shareholder). 

The management and organizational culture is certainly something that must be deeply questioned. I don't mean just this guy up at the top, but the overall management structures from top to bottom, in particular around the incentives for employees to behave this way or that. There are incentives that are explicit or written on posters on walls, and then there are the implicit, actual incentives that are the true culture. All of it should be looked at.

But it is difficult to change culture in organizations.

Corporate governance is this country is basically non-existant. 

I think there have been, are, and will be, poorly organized organizations in other countries too.

0 ( +0 / -0 )

no honor no integrity total BS

3 ( +3 / -0 )

Privatization of Japan Post was a mistake. Particularly with insurance and post office savings. Before, people had a strong confidence in the governmental organization and deposited their money in the organization and Japan Post rewarded people fairly and conscientiously while the government could use the long term deposit as sources of their revenues and could finance the public works such as buildings bridges etc.

0 ( +1 / -1 )

No, no, no, he should stay and serve every day, knowing his shame and pay for his bad actions.

0 ( +0 / -0 )

Fraud in Japan is not ‘fraud’ when the companies are so big...

2 ( +2 / -0 )

It doesn’t say he committed a fraud, so unless he can be directly tied to creating an atmosphere where it’s ok to defraud customers, resignation or the sack is the least that should happen. Beyond that the authorities should get involved stop Japan Post from selling this type of insurance and ensure they compensate all those they missold policies to.

0 ( +0 / -0 )

He still free? No detention? How about risk destroying evidence from others media outlet it is mentioned this activity involve document forgery.

Is he married?Stop him from contacting his wife, she might destroy evidence.

4 ( +4 / -0 )

tip of the iceburg

1 ( +1 / -0 )

He made a lot of money for the shareholders, thus only a resignation and a lot of bonus probably, otherwise no-one would want to be the next CEO to do the scam for the shareholders anymore.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites