September 10, 2015

THE SECOND WAY, HE DEAD:

BYE-BYE BLUE : Big Japanese IPO Signals Blue Demise (aMERICAN iNTEREST, 9/10/15)

Japan is putting a crown jewel of its once-robust blue model system on the auction block. The Wall Street Journal reports:

The Tokyo Stock Exchange said Japan Post Holdings and units Japan Post Bank Co. and Japan Post Insurance Co. are all scheduled to list Nov. 4. Japan Post Holdings aims to raise about ¥1.4 trillion from the simultaneous listings, based on the indicative prices.

That would be the biggest IPO since telecommunications provider NTT Docomo Inc.went public in 1998, raising ¥2.1 trillion, and the largest sale of a government-owned company since Nippon Telegraph & Telephone Corp. raised ¥2.4 billion in 1987.

This immense titan of everything blue--jobs for life, state-directed savings and investment, subsidized postal service, crony contracts with favored suppliers--has been a drain on the country's economy for years. Privatizing it should have happened decades ago; it is a white elephant that today's Japan cannot afford to feed.

Posted by at September 10, 2015 6:20 PM
  

blog comments powered by Disqus
« THE ARCHETYPAL ANGLOSPHERIC ENTERTAINMENT...: | Main | SOMEONE WANTS A SPOT IN JEB'S CABINET: »