TOKYO (Reuters) – Japan Post Holdings plans to sell its shares in Japan Post Bank in a secondary share sale worth as much as 630 billion yen ($4.22 billion), a regulatory filing showed on Thursday.
The sale, first reported by Reuters on Wednesday, comes as corporate governance reforms are accelerating in Japan with “parent-child” listings, where companies have a listed subsidiary, being scrutinised and companies under pressure to increase free-float share ratios.
($1 = 149.3400 yen)
(Reporting by Mariko Katsumura; Editing by Kim Coghill)
