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U.S. markets recover from steep losses
TOKYO, June 18 (UPI) -- The president of the Japan Post Holding Co. offered to discipline himself over a contract scandal that helped push the internal affairs minister to resign.
The government began a 10-year process of privatizing the postal service in 2007. As part of that plan, the Post sought to sell the Kampo-no-yado network of resort inns last year.
But the sale was canceled in January after Internal Affairs Minister Kunio Hatoyama charged the sale was "fixed," Kyodo News reported Thursday.
Hatoyama's dispute over the issue with Post President Yoshifumi Nishikawa was part of a running disagreement over management of the Post.
Hatoyama quit in frustration after Prime Minister Taro Aso said he would reappoint Nishikawa to run the Post, despite Hatoyama's opposition.
On Thursday Nishikawa said he would submit a plan to the government to improve the company, including his own self-punishment.
He also suggested he would keep his position as president, Kyodo reported.
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