Tokyo seeks to list postal service within three years

Postal minister Mikio Shimoji told a news conference that the government's shares in the company would be sold down in stages, but said he was not yet sure about the scale of the sell-down nor how much money Tokyo could raise.

However, the Nikkei business daily reported earlier on Friday that under a draft plan to list Japan Post shares in late 2015, the government would sell as much as a two-thirds stake and raise up to 7 trillion yen (US$87 billion) in stages.

Japan Post has net assets of roughly 11 trillion yen.

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