Sasayama’s Weblog


2005/04/13 Wednesday

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Filed under: ̤ʬÎà — ´ÉÍý¿Í @ 10:55:32

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2005/04/13(Wed)

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Members noted, however, that the existing “measured pace” language was clearly conditional on the economy evolving in a way that promised a gradual return to high levels of resource utilization and on inflation remaining low, and thus believed that the wording did not rule out either picking up the pace of firming or pausing in the process of removing policy accommodation should circumstances warrant.

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2005/04/11 Monday

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Filed under: ̤ʬÎà — ´ÉÍý¿Í @ 10:54:47

2005/04/11(Mon)

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2001 ǯ6·î30Æü¤Î¥­¥ã¥ó¥×¥Ç¡¼¥Ó¥Ã¥É¤Ç¤Î¥Ö¥Ã¥·¥å¡¦¾®Àô²ñÃ̤ˤè¤Ã¤Æ¡¢¤³¤ì¤Þ¤Ç¤Î¡Öµ¬À©²þ³×¤Ë´Ø¤¹¤ëÂÐÏáפνª·ë¤È¡¢¡Öthe Regulatory Reform and Competition Policy Initiative¡×¤Î³«»Ï¤ò³Îǧ¤·¡¢2002ǯ¤«¤é¤Ï¡¢¡ØÆüÊƵ¬À©²þ³×¤ª¤è¤Ó¶¥ÁèÀ¯ºö¥¤¥Ë¥·¥¢¥Æ¥£¥Ö¤Ë´ð¤Å¤¯ÆüËÜÀ¯ÉܤؤÎÊƹñÀ¯ÉܤÎǯ¼¡²þ³×Í×˾½ñ¡Ù(The Regulatory Reform and Competition Policy Initiative (”Reform Initiative”))¤ÎËèǯ¤Îȯɽ¤È¤Ê¤Ã¤¿¡£
http://www.meti.go.jp/english/information
/data/JUSrelation/cRegRefe.html
»²¾È

Âè°ì²ó¤Ï¡¢2002ǯ10·î23Æüȯɽ¤Ç¡¢
http://www.ustr.gov/assets/World_Regions/North_
Asia/Japan/Regulatory_Reform_Initiative/asset_upload_file676_6535.pdf

ÂèÆó²ó¤Ï¡¢2003ǯ5·î23Æüȯɽ¤Ç¡¢http://www.ustr.gov/assets/Document_Library/Fact_Sheets/
2003/asset_upload_file882_6532.pdf
http://www.ustr.gov/assets/World_Regions/North
_Asia/Japan/Regulatory_Reform_Initiative/
asset_upload_file429_6539.pdf

Âè»°²ó¤Ï¡¢2004ǯ6·î8Æüȯɽ¤Ç¡¢
http://japan.usembassy.gov/pdfs/wwwf-regref20040609rpt3-e.pdf¤ò»²¾È

¤³¤ì¤é¤Ë¤Ä¤¤¤Æ¤Ï¡¢¥ê¥ó¥¯½¸¡ØRegulatory Reform and Competition Policy Initiative¡Ùhttp://www.ustr.gov/World_Regions/North_Asia/Japan/Regulatory_
Reform_Initiative/Section_Index.html
¤¬¤¢¤ë¤Î¤Ç¡¢¤³¤ì¤ò¤´»²¾È

¤Á¤Ê¤ß¤Ë¡¢¤³¤ì¤âÈéÆù¤Ê¤³¤È¤Ê¤Î¤À¤¬¡¢¤³¤ì¤é¤Î²þ³×Í×˾½ñ¤ÎÆüËܸìÌõ¤Ï¡¢¥¢¥á¥ê¥«Âç»È´Û¤Î¥µ¥¤¥È¤Ç¡¢¼¡¤Î¤è¤¦¤Ë¸«¤ë¤³¤È¤¬¤Ç¤­¤ë¡£
2003ǯµ¬À©²þ³×Í×˾½ñ¡Ê2003ǯ10·î24Æü¡Ë
http://japan.usembassy.gov/j/p/tpj-j20031024d1.html
2002ǯµ¬À©²þ³×Í×˾½ñ¡Ê2002ǯ10·î23Æü¡Ë
http://japan.usembassy.gov/j/p/tpj-jp0260.html
¤³¤ì¤é¥µ¥¤¥È¤Ø¤Î¥¢¥á¥ê¥«Âç»È´Û¤Î¥ê¥ó¥¯½¸
http://japan.usembassy.gov/j/policy/tpolicyj-econ.html
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¤«¤ó¤¬¤¨¤Æ¤ß¤ì¤Ð¡¢ÆÈÀê¶Ø»ßË¡¤Î²þÀµ¤â¡¢¾¦Ë¡²þÀµ¤â¡¢³ÎÄêµò½Ð·¿Ç¯¶â¤ÎƳÆþ¤â¡¢¼«¸Ê»ñËÜÈæΨµ¬À©(BISµ¬À©)¤ÎƳÆþ¤â¡¢»ÊË¡À©ÅÙ²þ³×¤â¡¢¤½¤·¤Æ¡¢º£ÅÙ¤Î͹À¯Ì±±Ä²½¤â¡¢Â¿¤¯¤ÎÆüËܤÎÀ¯ºö¤È¤µ¤ì¤ë¤â¤Î¤Î²¼Éߤ­¤Ï¡¢¤³¤Î¡Ö²þ³×Í×˾½ñ¡×¤Ê¤ë¤â¤Î¤Ë¤¢¤Ã¤¿¤Î¤À¡£

»²¹Í 1.¡¡¥¢¥á¥ê¥«¡¦ÆüËܴ֤Ρֲþ³×Í×˾½ñ¡×¤Î·Ð°Þ

1993ǯ7·î10Æü¡¡Joint Statement on the Japan-United States Framework for a New Economic Partnership
http://www.mofa.go.jp/mofaj/area
/usa/keizai/framework/pdfs/fw_statement_e.pdf

The U.S.-Japan Common Agenda for Cooperation in Global Perspective (the Common Agenda)
http://www.mofa.go.jp/
region/n-america/us/agenda/gpers.html#2

1995ǯ¡¡ the Enhanced Initiative on Deregulation and Competition Policy under the U.S.-Japan Framework for a¡¡New Economic Partnership

1996ǯ¡¡the Enhanced Initiative on Deregulation and Competition Policy under the U.S.-Japan Framework for a¡¡New Economic Partnership

1997ǯ6·î19Æü¡¡Joint Statement on the U.S.-Japan¡¡Enhanced Initiative on Deregulation
and Competition Policy under the U.S.-Japan Framework¡¡for a New Economic Partnership
http://www.mofa.go.jp/policy/economy/summit/1997/joint.html

1998ǯ5·î15Æü¡¡First Joint Status Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy
http://www.mac.doc.gov/japan/source/menu/dereg/jrdereg.html

1999ǯ5·î3Æü
SECOND Joint Status Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy
http://www.mofa.
go.jp/region/n-america/us/report9905.html

2000ǯ7·î19Æü¡¡the Third Joint Status¡¡Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy
http://www.mac.doc.gov/japan/source/menu/dereg/3rdjsr.html

2001ǯ7·î30Æü¡¡the Forth Joint Status¡¡Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy
http://www.mofa.go.jp/region/n-america/us/report0106.html

2002ǯ10·î23ÆüAnnual Reform Recommendations from the
Government of the United States to the Government of Japan under the
U.S.-Japan Regulatory Reform and Competition Policy Initiative
http://www.ustr.gov/assets/World_Regions/North
_Asia/Japan/Regulatory_Reform_Initiative/asset
_upload_file676_6535.pdf

2003ǯ10·î24ÆüAnnual Reform Recommendations from the
Government of the United States to the Government of Japan under the
U.S.-Japan Regulatory Reform and Competition Policy Initiative
http://www.ustr.gov/assets/World_Regions/North
_Asia/Japan/Regulatory_Reform_Initiative/asset_upload_
file429_6539.pdf

2004ǯ10·î14ÆüAnnual Reform Recommendations from the
Government of the United States to the Government of Japan under the¡¡U.S.-Japan Regulatory Reform and Competition Policy Initiative
http://www.ustr.gov/assets/World_Regions/North
_Asia/Japan/Regulatory_Reform_Initiative/asset
_upload_file229_6538.pdf

»²¹Í2.¥¢¥á¥ê¥«¡¦ÆüËܴ֤Ρֲþ³×Í×˾½ñ¡×¤Ëµ­ºÜ¤µ¤ì¤¿¡Ø͹Ãù¡¦´ÊÊݡ٤˴ؤ¹¤ëµ­ºÜ²Õ½ê(2000ǯ¤«¤é2004ǯ¤Þ¤Ç¤Î³ºÅö²Õ½ê¤òµ­ºÜ¡Ë

THIRD JOINT STATUS REPORT ON THE U.S.-JAPAN ENHANCED INITIATIVE ON DEREGULATION AND COMPETITION POLICY

July 22, 2000

IV. FINANCIAL SERVICES

B Insurance

1. Improvements in Administrative Procedures and Practices

2. Kampo (Postal Insurance)

1. The insurance products or riders underwritten or sold on consignment by the Ministry of Posts and Telecommunications (MPT) are to be offered pursuant to law. Approval from the Diet is required to expand or change the insurance products or riders offered by MPT except for limited alterations within the scope of the products or riders authorized by law.

2. Regarding the future of the Kampo, the Basic Law on the Administrative Reform of the Central Government of 1998 provided for the Soumusho and the Postal Services Agency, and later the Soumusho and the new public corporation, to take over the management of the system, and to implement the system, reflecting its objective as defined in the Postal Life Insurance Law as well as the basic ideas contained in the Administrative Reform Program adopted by the Cabinet on December 25,1996.

3. The Diet passed a law in its 147th session, authorizing post offices to sell on consignment compulsory automobile liability insurance products underwritten by private non-life insurance providers for mopeds and motorbikes with engine displacement of 250 cc or less. MPT currently has no plans to propose legislation to authorize post offices to sell non-life insurance products other than what is already authorized by the Diet.

(1) The law enables post offices to sell the products mentioned above for the purpose of expanding the coverage of compulsory automobile liability insurance for mopeds and motorbikes with engine displacement of 250cc or less.

(2) The law stipulates that, when the Postal Services Agency is engaged in this business, the Agency will be subject to the relevant provisions of the Insurance Business Law.

(3) MPT will, at the time of inviting consignors, announce the selection criteria, and at the time of selecting consignors, will treat domestic and foreign insurance providers on a non-discriminatory basis. MPT confirms that in response to requests from private insurance companies, it will meet with those companies to explain the selection criteria to be utilized when choosing a private sector underwriter to be a consignor.

4. MPT reaffirms the contents of paragraphs IV(4)b and VII of the Measures by the Government of the United States and the Government of Japan Regarding Insurance of October 1994.

5. MPT confirms that, in response to requests from private interested parties, including foreign insurance providers, it will meet with those parties to explain matters regarding the formulation of proposals to seek from the Diet an amendment to the law to expand, or change, Kampo products.

FOURTH JOINT STATUS REPORT ON THE U.S.-JAPAN ENHANCED INITIATIVE ON DEREGULATION AND COMPETITION POLICY

June 30, 2001

B. Kampo (Postal Insurance)

1. The Government of Japan reaffirms section IV. B. 2. of the Third Joint Status Report on the U.S.-Japan Enhanced Initiative on Deregulation and Competition Policy, issued in July 2000.

2. Regarding the future of the Postal Life Insurance System (Kampo), the Basic Law on the Administrative Reform of the Central Government of 1998 provided for MPHPT and the Postal Services Agency in January 2001, and later MPHPT and the new postal public corporation (yusei kosha), to take over the management of the Postal Life Insurance system, and to implement the system, reflecting the objective set out in the Postal Life Insurance Law, as well as the basic ideas in the Administrative Reform Program adopted by the Cabinet on December 25, 1996. MPHPT is currently considering the framework of the Postal Life Insurance Law which is to be applied in the new public corporation system.

3. Considering the provision in the Postal Life Insurance Law, which stipulates that the purpose of Postal Life Insurance is to promote the welfare of the public, and the interest of private parties, including foreign insurance providers, in the modification of the Kampo system, MPHPT recognizes the importance of informing the general public of the formulation of the amendments of the provisions concerning Kampo products in the Postal Life Insurance Law which the transfer to the new public corporation would affect, before the bill is submitted to the Diet.

4. MPHPT will provide an opportunity for private interested parties, including foreign insurance providers, upon request, to comment on, and exchange views with MPHPT regarding the formulation referred to above.

Annual Reform Recommendations from the Government of the United States to the Government of Japan under the
U.S.-Japan Regulatory Reform and Competition Policy Initiative
October 23, 2002

FINANCIAL SERVICES

SUMMARY OF RECOMMENDATIONS

C Postal Financial Institutions (yucho and kampo): Allow the postal financial
institutions to employ the asset management services of investment advisory companies
through direct onshore trust arrangements;increase transparency and promote private
sector provision of services by subjecting any new financial service activities proposed for
the Postal Financial Institutions to full public comment and consideration before their
introduction.

FINANCIAL SERVICES
I. Specific Measures. The United States welcomes regulatory reform in the following
areas at the earliest possible date:
A. Permit the Postal Financial Institutions (yucho and kampo) to employ the asset
management services of investment advisory companies through direct onshore
trust arrangements (tokutei shintaku) without the requirement to convert asset
positions into cash before changing asset managers;

V. Postal Financial Institutions. The U.S. Government continues to share concerns voiced
by Keidanren and others related to the effect of the postal financial institutions – postal
savings (yucho) and postal insurance (kampo) – on the efficient operation of Japan¡Çs
financial markets. The drafting of implementing rules and regulations, which will guide
the creation of the Public Postal Corporation in 2003 and establish operational guidelines
of the three postal services (mail delivery, savings, and insurance), provides an important
opportunity for the Japanese Government to take concrete steps to address key
transparency and competition issues related to these organizations.
A. Transparency. The process for the transfer of the postal services from the Postal
Services Agency to a public postal corporation and its possible effects on the
private sector remain unclear. To remedy this, the U.S. Government urges
MPHPT to take steps to sufficiently inform and seek input from the public
(including foreign insurers) on all aspects of the transfer that may affect private
sector operations in the relevant sectors. This includes affording the insurance
industry and other interested parties (both domestic and foreign) meaningful
opportunities to be informed of, comment on, and exchange views with MPHPT
officials on:
1. MPHPT-proposed plans and draft legislation prior to their submission to
the Diet; and
2. Draft guidelines and other regulatory measures prior to their
implementation, with full utilization and implementation of the Public
Comment Procedures.
B. Curb Expansion. In transferring the postal services and establishing a public
corporation in 2003, the United States recommends that Japan prohibit the postal
financial institutions (kampo and yucho) from underwriting any new insurance
products or originating any new non-principal-guaranteed investment products.
Annex - 30
C. Same Standards. In transferring the postal services and establishing a public
corporation in 2003, the United States recommends that, in order to create a level
playing field between the postal financial institutions and their private sector
competitors, Japan subject the postal financial institutions to the same laws, level
of taxation, safety net contribution requirements, and standards of regulation as
their private sector counterparts.
D. Privatization. The U.S. Government notes that Prime Minister Koizumi has
received recommendations from the private panel he tasked with studying the
possible privatization of the postal services organizations (including the postal
financial institutions). As any modifications to the existing system could have a
significant impact on competition in, and the effective operation of, the broader
insurance market in Japan, it is important that any decisions on privatization be
made and implemented in an open and transparent manner. This would include
the same measures as outlined above in Section V A.

Annual Reform Recommendations from the Government of the United States to the Government of Japan under the
U.S.-Japan Regulatory Reform and Competition Policy Initiative
October 24, 2003

SUMMARY OF RECOMMENDATIONS

C Postal Financial Institutions: Ensure that the privatization of postal services is
undertaken in a transparent manner, curb expansion of product offerings of postal
financial institutions, and subject the postal financial institutions to the same standards as
their private-sector counterparts.

II. Transparency. To improve transparency in financial sector regulatory and supervisory
practice, the United States would welcome measures in the following areas at the earliest
possible date:
A. In line with the announced goal of carefully reviewing the activities of public
sector corporations and avoiding competition with the private sector, the United
States requests that any proposed report, request for product/service approval, or
legislative action relating to the provision of financial services by the Postal
Financial Institutions (yucho and kampo) that will affect the existing conditions of

V. Postal Financial Institutions. The U.S. Government continues to share concerns voiced
by Keidanren and others related to the effect of the postal financial institutions – postal
savings (yucho) and postal insurance (kampo) – on the efficient operation of Japan’s
financial markets.
A. Transparency. With regard to the formulation of proposed amendments to the law
related to kampo products and distribution or origination by Japan Post of nonprincipal-
guaranteed yucho investment products, the U.S. Government urges MPHPT to take steps to sufficiently inform and seek input from the public
(including foreign insurers) on all aspects that may affect private sector operations
in the relevant sectors. This includes providing the insurance industry and other
private sector interested parties (both domestic and foreign) meaningful
opportunities to comment on and exchange views with MPHPT officials on:
1. MPHPT-proposed plans and draft legislation prior to their submission to
the Diet; and
2. Draft guidelines and other regulatory measures prior to their implementation, with full utilization and implementation of the Public
Comment Procedures.
B. Same Standards. The United States recommends that, in order to create a level
playing field between the postal financial institutions and their private sector
competitors, Japan subject the postal financial institutions to the same laws, level
of taxation, level of safety net contributions, reserve requirements, standards and
regulatory oversight as their private sector counterparts.
C. Curb Expansion. The United States urges Japan to prohibit the postal financial
institutions (kampo and yucho) from underwriting any new insurance products
that the private sector can provide, or originating any new non-principalguaranteed
investment products, until measures to ensure a level playing field (as
recommended immediately above) are implemented. Towards this end, the
United States urges the Japanese Government to reaffirm Japan¡Çs commitment to
the new product review and approval process outlined in the U.S.-Japan Insurance
Agreement of 1994 with regard to new kampo-underwritten policies.
D. Privatization. The U.S. Government notes that Prime Minister Koizumi has tasked
Economy and Fiscal Policy Minister Takenaka to compile a postal-privatization
plan for the three postal services including kampo and yucho by the fall of 2004,
with the goal of privatizing the postal services in April 2007. As any
Annex - 35 modifications to the existing system could have a significant impact on
competition in, and the effective operation of, the broader insurance market in
Japan, it is important that any decisions on privatization be made and
implemented in an open and transparent manner. This would include the same
measures as outlined above in Section V A.

Annual Reform Recommendations from the Government of the United States to the Government of Japan under the
U.S.-Japan Regulatory Reform and Competition Policy Initiative
October 14, 2004

PRIVATIZATION
The United States has taken a continuing interest in Prime Minister Koizumi¡Çs efforts to restructure and
privatize Japan¡Çs public corporations, a reform initiative that can have a major impact on the Japanese
economy by stimulating competition and leading to a more productive use of resources. The United
States is particularly interested in Prime Minister Koizumi¡Çs ambitious efforts to privatize Japan Post.
Because Japan¡Çs postal life insurance and postal saving businesses have grown to become the world¡Çs
largest life insurer and savings institutions, their privatization is expected to have an enormous impact on
companies operating in these sectors. Scheduled to commence in 2007, Japan Post privatization is likely
to have significant implications for private express delivery companies.
Central to the United States¡Ç recommendations this year is the principle that privatization of Japan Post
should be ambitious and market-oriented if it is to achieve maximum economic benefits for the Japanese
economy. A truly market-oriented approach must include the establishment of undistorted competition in
Japan¡Çs insurance, banking, and express delivery markets. Elimination of all advantages accorded to
Japan Post over its private sector competitors is essential. These advantages have long been of concern
to U.S. and Japanese companies alike. The Council on Economic and Fiscal Policy took an important
step forward in its September 10, 2004 Basic Policy on the Privatization of Japan Post by recognizing the
importance of equalizing the ¡Ècompetitive conditions¡É between Japan Post and private companies.
The United States looks forward to successful privatization of Japan Post and other entities such as
Narita International Airport and the Japan Highway Public Corporation. This is a complex and
challenging undertaking that, if carried out effectively, can bring great benefit to the Japanese economy
and Japan¡Çs companies and consumers. Highlights of this year¡Çs recommendations on privatization are:

SUMMARY OF RECOMMENDATIONS
C Fair Competition in Express Delivery:Ensure the postal regulator is independent and
fully separate from Japan Post; prohibit Japan Post¡Çs postal business from receiving special
government benefits that distort competition in business operations where it competes with
the private sector.

V. Postal Financial Institutions. The U.S. Government continues to share concerns voiced
by Nippon Keidanren and others about the effect of the postal financial institutions –
postal savings (yucho) and postal insurance (kampo) — on the efficient operation of
Japan¡Çs financial markets.
A. Transparency. With regard to the formulation of proposed amendments to laws
related to kampo products and distribution or origination by Japan Post of
non-principal-guaranteed yucho investment products, the United States urges
relevant parties in the Government of Japan to take steps to sufficiently inform
and seek input from the public (including foreign insurers) on all aspects that may
affect private sector operations in the relevant sectors. This includes providing
the insurance industry and other private sector interested parties (both domestic
and foreign) meaningful opportunities to comment on and exchange views with
relevant Japanese officials on:
1. Proposed plans and draft legislation prior to their submission to the Diet;
and
2. Draft guidelines and other regulatory measures prior to their
implementation, with full utilization and implementation of the Public
Comment Procedures.
B. Same Standards and Curb Expansion. The United States urges that a fully level
playing field be achieved between the postal financial institutions and their private
sector competitors, in accordance with measures outlined in II.A.1. of the
Privatization Chapter. Until a fully level playing field is achieved, the United
States also urges Japan to prohibit the postal financial institutions from
underwriting any new or altered insurance products that the private sector can
provide, or originating any new non-principal-guaranteed investment products.

PRIVATIZATION
II. Privatization of Japan Post. Privatization of Japan Post must be ambitious and
market-oriented to achieve maximum economic benefits for the Japanese economy. A
truly market-oriented approach must include the establishment of undistorted competition
in Japan¡Çs insurance, banking, and express delivery markets through, among other
measures, the elimination of all advantages accorded to Japan Post over its private sector
competitors. These advantages have long been of concern to U.S. and Japanese
companies alike. The Council on Economic and Fiscal Policy (CEFP) took an important
step in its September 10 ¡ÈBasic Policy on the Privatization of the Japan Post¡É by
recognizing the importance of establishing ¡Èequal footing¡É as well as equalizing the
¡Ècompetitive conditions¡É between Japan Post and private companies. The CEFP report
also identifies specific measures with regard to same tax and safety net obligations and
the termination of government guarantees on products for the postal insurance and
savings businesses to be taken from the start of privatization in 2007. The U.S.
Government welcomes these specific recommendations and urges their inclusion in
legislation to privatize Japan Post.
A. Postal Insurance and Postal Savings. In order for the privatization of Japan Post to
fully achieve the CEFP¡Çs call for ¡Èequal footing¡É with the private sector as well as
to bring about fair competition in Japan¡Çs insurance and banking sectors, the
United States urges Japan to take the following measures:
1. Establish a truly level playing field with private sector companies,
including:
a. Subjecting the postal insurance and savings businesses to the same
laws, regulations, tax requirements, reserve requirements,
standards, and regulatory supervision as the private sector;
b. Taking sufficient steps to avoid public perceptions of implicit
government guarantees on new postal insurance and postal savings
Annex - 45 products, especially until the full divestiture of government shares
in the postal insurance and savings businesses is complete;
c. Implementing adequate measures, including full accounting transparency, among the new postal insurance, postal savings, and
other affiliated businesses to ensure their transactions are arms-length and eliminate the potential for cross-subsidization
among Japan Post¡Çs financial and non-financial businesses; and
d. Taking appropriate measures, including rigorous enforcement of
the Antimonopoly Act, to ensure that the postal insurance and
savings businesses do not use their market power to distort
competition.

2. Implement a moratorium on the introduction of new lending services, new
or altered insurance products underwritten by the postal insurance business, and the origination of non-principal-guaranteed investment
products by the postal savings business until after a truly level playing
field (as recommended immediately above) has been achieved, and at that
point ensure that such products and services are introduced in a balanced
manner.
3. As the Japanese Government moves forward with plans to allow Japan
Post to distribute privately-originated non-principal-guaranteed investment
products, ensure that the selection of such products is conducted in a fair
and transparent manner.
4. Ensure that any selection of privately-originated insurance products to be
distributed through Japan Post is conducted in a fair and transparent
manner.
5. Ensure no new advantages are accorded to the postal insurance and
savings businesses as a result of the privatization process.
6. Create an independent committee to review on a regular basis the
conditions of competition between postal insurance and savings businesses
with private sector companies, with the goal of ensuring that equal conditions are maintained throughout the privatization process.

B. Express Delivery Services. In order to foster fair competition between Japan Post
and express delivery carriers, the United States urges Japan to take the following
measures:
1. Independent Regulator. Ensure that the regulatory authority for postal
matters is separate and independent from Japan Post, and has sufficient
Annex - 46
authority to ensure that Japan Post, or any entity it controls, does not
operate in an anti-competitive manner.
2. Non-Discriminatory Treatment. Ensure as appropriate that government
policies do not accord a supplier of a competitive service special benefits
that modify the terms of competition, such as exemption from taxes and
other fees, special treatment by government agencies in the transport of
goods, and exemption from the cost of Customs operations.
3. Cross-Subsidization. Implement controls to prevent anti-competitive
cross-subsidization of competitive services with revenues gained from the
supply of universal services. One such control could be to ensure that
accounting for Japan Post and all its related companies are separate,
independent, and fully transparent.

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