is a Japanese bank headquartered in Tokyo. It is a corporation held by Japan Post Holdings, in which the government of Japan has a majority stake.

It is a major financial institution that started in 1875 as a postal savings system, and that still today continues to operate primarily out of post office branches. It manages over ¥205 trillion of assets and offers services in almost 24,000 branches across Japan. At times in its history, it was the largest financial institution in the world. Since its conception, it has played a significant role in both making economic services to people in Japan and making investments towards the economic and industrial development of the country.

Throughout the vast majority of its history, Japan Post Bank had always been fully government owned and organizationally a part of the postal system. In 2007, a bill was passed to begin the privatization of Japan Post Bank and to create separate companies to handle the distinct responsibilities of Japan Post. The government's sale of its shares in Japan Post Bank and its holding company are still ongoing.

Organizational history 
The postal savings system in Japan was started in 1875 by Maejima Hisoka, who is known as "the father of the Japanese postal system." Before he founded the postal system as a whole four years before in 1871, Maeijima had spent time observing the postal system of the United Kingdom and was impressed by its offering of postal savings services. Adoption by the public was rapid, with 10,000 customers within the first three years of operation.

After World War II, in 1949 the postal savings system was relaunched under the newly formed Ministry of Posts and Telecommunications. As the economy recovered, postal savings grew to tremendous sums, reaching ¥1 trillion in 1960 and ¥100 trillion in 1985. In 2001, the postal savings system came under the jurisdiction of the Postal Services Agency, which soon reorganized into Japan Post in 2003.

Through all these organizational changes, the postal savings services were managed by a single government-owned company that also handled significant postal and insurance divisions. In 2006, Japan Post Holdings was founded as a government-owned holding company in preparation for the division of these responsibilities into separate companies with partial private ownership, a reorganization which occurred on October 1, 2007. On November 3, 2015, the shares of Japan Post Bank Company debuted for the first time on the Tokyo Stock Exchange, with about 10% of shares listed.

Historical role in economic development 
The importance of the Japanese postal banking system lies not just in providing a savings vehicle and financial services to the people of Japan, but also in the use of the saved funds to promote economic development throughout modern Japan's history.

Founding through World War II 
Postal savings were first deposited in the , a private bank that issued currency, but starting in 1878 deposits were made to Ministry of Finance, which became the exclusive destination for deposits in 1884.

This was during the Meiji Restoration, when the Japanese government was focused on encouraging economic and military modernization and avoid foreign debt to remain independent during a period of Western colonialism. A particular concern was foreign debt, as observers in Japan saw indebtedness in countries like China and Egypt leading to their subordination to their creditors.

However, this transformation required large amounts of capital to finance as railways, communications systems and industrial development in a country with a low savings rate because a large majority did not see money as something to be saved and invested. Postal banking became a success, and by 1885 it had 1.25 million depositors who could make financial transactions at around 4500 post office branches.

At the beginning, deposits were lent exclusively to the government through the purchase of government bonds. In the 1890s, the government starting creating several banks that could offer industrial loans backed by these deposits.  However, this type of lending only became notable after 1912, and only by the 1930s did it become the type of system which would become important after the war that lent funds to specific institutions to achieve developmental objectives.

In the lead-up to and during World War II, postal savings were invested in companies involved in wartime production and government bonds, which were issued in significant amounts to finance the war effort. This period saw postal savings grow at its highest rate ever, quintupling between 1942 and 1945.

Post-war 
The banking system was in complete disarray immediately after the war. The savings rate became negative as depositors withdrew money that had lost significant value during wartime inflation. Records for 52 million accounts were destroyed in war damage. Finally, ¥6 billion of investments by the postal savings system in overseas colonial territories vanished as the government struggled to control the domestic economy.

To promote savings which could be invested into rebuilding the economy, Japanese officials issued relentless statements advocating for austerity and instituted measures to restore confidence in the financial system. From the 1950s, postal savings experienced steady growth and increased its market share relative to private banks, thanks to the huge availability of postal offices, attractive financial products offering good returns and preferential tax treatment on deposits from the government.

During the Allied Occupation of Japan, deposits into the postal savings system were allowed to be invested only in government and municipal bonds and private financial institutions were mainly responsible for issuing capital. After a revision in public financing in 1951, due to the need for funds for both rebuilding and the Korean War, funds could once again be deposited at the Ministry of Finance and invested in industry through the Fiscal Investment and Loan Program (FILP). Financial corporations were established by the government to make loans to government and industrial bodies which contributed to rapid industrial development and economic growth. From the 1953, the funds distributed through FILP totaled one-half to one-third of the national budget. In 2001, amid a controversy over the privatization of Japan Post Bank and the political influence over the use of FILP funds, a reform was passed which ended the official linkage between FILP and Japan Post Bank deposits, although funds continued to flow in practice.

Privatization 

In 2005, a bill to privatize the Japanese postal office was passed, which included the privatization of Japan's postal banking services as a separate company in the same ownership structure as other post office holdings. This process began in 2007. The bill intended to make Japan Post Bank an independent entity, with the government selling off its shared by 2017, and that it would continue to operate out of post office branches of the Japan Post Service, the equivalent company formed for postal services.

The plan for privatization did not proceed smoothly. In 2009, in response to the financial crisis, privatization was halted and savings were encouraged to fund stimulus spending. In 2011, after the Great East Japan Earthquake, shares of the postal bank were once again permitted to be sold to help finance rebuilding after the disaster. In 2015, Japan Post Bank had its shares offered for sale in the Tokyo Stock Exchange for the first time, with about 10% of its shares offered.

Progress towards privatization is still ongoing. At the end of 2019, the government had a 57% ownership stake in Japan Post Holdings, which owns 90% of Japan Post Bank.

Current operations 

In 2019, Japan Post Bank was managing ¥205 trillion of assets. It oversaw approximately 120 million customer accounts, who had access to services in almost 24,000 branches across Japan, most of which are contracted post offices officially belonging to the Japan Post Service. The bank offers a variety of financial products, including deposit accounts, credit cards and loans, investment products, time deposits, and pension accounts.

The bank also provides an important social benefit through making financial services available to rural areas. In parts of Japan where the population is shrinking or has a high proportion of elderly people, Japan Post Bank operating out of a post office may be the only financial institution available.

The bank also manages almost 30,000 ATMs across Japan. Since many transactions in Japan are still conducted with cash, Japan Post Bank also plays an important role in making ATMs available where other bank branches are encouraging cashless payment or reducing their ATM numbers.

In May 2019, Japan Post Bank launched Yucho Pay, a smartphone-based payment service that pays a participating store directly from the user's bank account. The service initially launched with approximately 10,000 customers, and also allows for payment or withdrawals through scanning QR codes.

In March 2021, Japan Post announced it would invest ¥150bn ($1.4bn) to acquire a 8.3 percent stake in Rakuten in order to create a partnership dealing in logistics, mobile and payments businesses.

Controversies 
In 2019, an internal investigation revealed thousands of instances where investment products were sold improperly, with 90% of 230 directly managed Japan Post Bank outlets involved. It found that products were sold to elderly customers without confirming their full understanding of the product. This resulted in an investigation by the Financial Services Agency and a temporary suspension of its sales and marketing for insurance and financial products.

See also

Yucho

Notes

References

External links
Japan Post Bank 

Banks of Japan
Japan Post Holdings
Banks established in 2006
Japanese companies established in 2006
Government-owned companies based in Tokyo
Financial services companies based in Tokyo
Japanese brands
2015 initial public offerings
Postal savings system
주식회사 유초 은행(, )은 2005년 10월 21일에 공포된 우정민영화 관련 6개 법안에서 규정된 은행 업무를 담당하기 위하여 2006년 9월 1일에 설립된 일본의 은행이다. 보통 JP 유초 은행이라고 한다.

개요 
2005년 우정민영화 관련 법안의 공포에 따라 민영화 준비회사가 되는 "주식회사 유초"가 2006년 9월 1일에 설립되었다. 이후 2007년 10월 1일 우정민영화가 시행되면서 사명을 주식회사 유초 은행으로 변경하여 기존의 일본우정공사에서 주로 우편저금 사업을 비롯한 예금 업무 등을 이관받고, 필요한 시설과 직원 등을 승계하였다.

기존에 우편저금이 취급해 온 상품과 각종 서비스가 명칭만 변경되어 유초 은행이 사실상 계승하고 있지만, 법적으로 유초 은행의 지위는 우편저금법 규정에 따른 "우편저금"이 아닌 시중 은행에 적용되는 은행법 규정에 따라 면허를 받은 은행으로 간주된다(우정민영화법 제98조 1항). 단 통화량의 계산에 있어서는 M2(일반 은행)에 포함되지 않는다.

일본우정그룹 소속이지만 일본우정 등과 같이 특별법에 따라 그 목적과 활동 범위 등이 제한된 특수법인은 아니다. 회사명 역시 우정민영화법에 관련 규정이 없지만, 법문에서는 설명을 위해 우편저금은행으로 표현하고 있다.

총 자산액으로는 기존에 일본 은행업계 최고액이었던 미쓰비시 UFJ 파이낸셜 그룹을 제치고, 일본 최대의 은행이 되었다. 또한 법적으로 시중 은행에는 포함되지 않지만, 미즈호 은행을 빼고 전국 47개 도도부현 모두 점포(지점, 출장소)가 있는 은행은 유초 은행뿐이다.

2011년 10월 27일에는 전국은행협회에 "특례 회원"으로 공식 가입했다.

주식 
2006년 우정민영화 준비회사로서 설립되었을 당시부터 일본우정 주식회사의 자회사이다. 다만 간포 생명보험과 마찬가지로 일본우정이 보유한 유초 은행의 주식은 장래에 100% 민간에 매각하는 것으로 우정민영화법에 명기되어 있다.

당초 2005년에 공포된 우정민영화법에서는 2017년 9월 30일까지 모든 주식을 매각하는 것으로 규정했으나, 2009년 12월 민주당의 하토야마 유키오 내각이 우정민영화 재검토에 착수하면서 기존의 우정민영화법에서 "주식 매각 이행 기간(2007년 10월 1일부터 2017년 9월 30일까지)"을 삭제하고 대신 "경영 상황, 타 조항이 규정하는 책무의 이행에 대한 영향 등을 감안하면서 가능한 한 조기에 처분한다"로 개정이 이루어져 매각 시한이 사라졌다.

이후 2015년 11월 4일, 지주회사인 일본우정과 함께 도쿄 증권거래소 제1부에 상장되어 일본우정이 보유한 유초 은행 주식의 11%가 시장에 매각됐다.

점포망 
일본우편 주식회사에 위탁하여 일본 내 2만 4천여 곳에 달하는 우체국에서 유초 은행의 창구 업무가 이뤄지고 있으며, 이들 창구는 유초 은행의 "대리점" 지위가 부여되어 있다.

일부 지역(주로 도시 지역)에는 직영점이 개설되어 유초 은행이 직접 관리, 운영하고 있다. 이 경우 일반적으로 우체국과는 독립된 공간에 지점이 개설되어 있지만, 우체국 건물 일부를 임대받아 운영하거나 반대로 유초 은행 건물에 우체국이 병설되어 있는 경우도 있다.

또한 우체국 내에 있는 현금 자동 입출금기(ATM) 역시 유초 은행 소유이다. 다만 ATM 기기는 일본우편(해당 우체국 직원)이 위탁 관리한다.

연혁 
 2006년 9월 1일 - 우정민영화 준비 회사로서 "주식회사 유초"가 설립.
 2007년 10월 1일 - 사명을 "주식회사 유초 은행"으로 변경하여 영업 개시.
 2008년 7월 22일 - 본점을 유센 빌딩으로 이전. 이에 따라 유초 은행 단독 점포가 3개 거점으로 증가.
 2010년 4월 1일 - 구 일본우정공사 지사 단위에 설치되었던 통괄점의 총무부 및 영업기획부의 기능을 신설된 "에리어 본부"로 이관.
 2011년 10월 27일 - 전국은행협회에 "특례 회원"으로 공식 가입.
 2012년 7월 17일 - 본점을 JP 타워로 이전.
 2015년 11월 4일 - 도쿄 증권거래소 제1부에 주식을 상장.
 2016년 4월 4일 - 모회사인 일본우정이 훼미리마트와 업무 제휴를 체결하고 훼미리마트 일부 점포에만 설치되어 있던 유초 은행 ATM을 다른 점포에도 확대 설치하기로 방침을 결정.
 2016년 6월 21일 - 사이타마 슈퍼 아레나에서 상장 후 첫 주주총회를 개최.

종합계좌 개설 방법(외국인 기준) 
준비물: 재류카드, 도장

진행 순서
 유초 은행 방문하여 계좌 개설 신청
 은행에서 제공하는 서류 2장 작성 (데빗 카드, 캐시 카드 신청 가능)
 재류카드 복사 및 도장 찍고 사인 하면 개설 완료
 통장에 돈을 넣지 않아도 바로 지급 받을 수 있으며 카드는 서류에 작성한 거주 주소로 발송된다.(1~2주 정도 소요)

같이 보기 
 일본우정
 일본의 우정민영화

외부 링크 

  

일본의 은행
일본의 우정민영화
일본우정 그룹
2006년 설립된 기업
2007년 해체된 기업
2007년 설립된 기업
일본의 공기업
일본의 브랜드