The internal affairs ministry on Wednesday approved state-owned Japan Post Holdings Co.'s business plan to report falls in both revenue and net profit in fiscal 2010, due to sluggish mail delivery operations.
This is the first ministry approval of Japan Post's annual business plan since the group's management was largely reshuffled by the Democratic Party of Japan-led government last October, as part of its efforts to change the nation's postal privatization plan spearheaded by Junichiro Koizumi when he was prime minister.