[1] The major concern was Japan Post, with government backing, stymieing competition and giving politicians access to postal savings to fund pet projects.

However, on October 26, 2012, the Japanese government unveiled plans to list shares of Japan Post Holdings within three years, partly to raise money for the reconstruction of areas devastated by the earthquake and tsunami of 2011.

[2] In October 2021, the Japanese government completed its majority privatisation process of Japan Post Holdings, but also still maintained control of most of the company's stock.

[4][5] The company was born on April 2, 2003, as a government-owned corporation, replacing the old Postal Services Agency of the Ministry of Public Management, Home Affairs, Posts and Telecommunications (総務省郵政事業庁, Sōmu-shō Yūsei Jigyōchō).

Japan Post's formation was part of then Prime Minister Junichiro Koizumi's long-term reform plan and was intended to culminate in the full privatization of the postal service.

The privatization plan encountered both support and opposition across the Japanese political spectrum, including the two largest parties, the LDP and the DPJ.

Many considered the bill deeply flawed because it provided for too long a period for full implementation and included too many loopholes that might create a privatization in name only.

[8][9] However, the majority privatisation process, which nonetheless saw the Japanese government still maintain control of one-third of the company's stock, was completed in October 2021.