Friday, October 14, 2005

Koizumi Finally Did It

What has bunch of letters and over $3 TRILLION? Give up?... it's Japan's Postal Savings System, which was state-owned until now. The bill to privatize the PSS finally passed Friday (today) by a vote of 134 to 100. This has been a long fought battle for Japan's Prime Minister Junichiro Koizumi, but he did it. The privatization process will commence in 2007 and expected to be completed by 2017. We at RW Wentworth have been following this long-awaited battle and believe this will have some implications to certain U.S. assets. My report on this matter should be freely available on RWW's website in the coming weeks.


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