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Ex-Vice Finance Minister Saito tapped as Japan Post chief

TOKYO, Japan - Former Vice Finance Minister Jiro Saito, who has been picked as Japan Post Holdings Co. president to succeed Yoshifumi Nishikawa, speaks during a news conference in Tokyo on Oct. 21.

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Kamei taps former vice finance minister Saito to succeed Nishikawa

TOKYO, Japan - Shizuka Kamei, state minister in charge of postal reform, speaks during a press conference at the Financial Services Agency on Oct. 21, 2009, saying he will appoint former Vice Finance Minister Jiro Saito as Japan Post Holdings Co. president to succeed Yoshifumi Nishikawa.

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Vice finance minister Saito to succeed Nishikawa

TOKYO, Japan - File photo shows portrait of former Vice Finance Minister Jiro Saito who is appointed as Japan Post Holdings Co. president to succeed Yoshifumi Nishikawa.

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Japan Post head Nishikawa announces resignation

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa looks glum during a news conference at the company's head office in Tokyo on Oct. 20, 2009. Nishikawa announced his intention to step down amid calls for his resignation from the new government, which has adopted a policy to overhaul Japan's postal privatization.

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Japan Post head Nishikawa announces resignation

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa speaks at a news conference at the company's head office in Tokyo on Oct. 20, 2009. Nishikawa announced his intention to step down amid calls for his resignation from the new government, which has adopted a policy to overhaul Japan's postal privatization.

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Minister asks Japan Post to postpone parcel service integration

TOKYO, Japan - Internal Affairs and Communications Minister Tsutomu Sato (L) holds talks with Japan Post Holdings Co. President Yoshifumi Nishikawa (R) at his office in Tokyo on Aug. 11. Sato requested Nishikawa to postpone the planned integration in October of the parcel delivery operations of Japan Post and private-sector trucking company Nippon Express Co.

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Nishikawa's reappointment as head of Japan Post authorized

TOKYO, Japan - Yoshifumi Nishikawa speaks to reporters at the Internal Affairs and Communications Ministry in Tokyo on June 29 after his reappointment as president of government-owned Japan Post Holdings Co. was authorized by Internal Affairs and Communications Minister Tsutomu Sato.

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Nishikawa's reappointment as head of Japan Post authorized

TOKYO, Japan - Internal Affairs and Communications Minister Tsutomu Sato (L) hands over to Yoshifumi Nishikawa documents authorizing Nishikawa's reappointment as president of government-owned Japan Post Holdings Co. at the Internal Affairs and Communications Ministry in Tokyo on June 29.

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Nishikawa's reappointment approved by Japan Post shareholders

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa (R) attends a shareholders meeting in Tokyo on June 29. He was approved to remain at the helm of Japan Post despite a series of scandals such as an aborted attempt to sell the Kampo-no-yado resort network. At left is a senior Finance Ministry official who attended as a government representative.

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Nishikawa's reappointment approved by Japan Post shareholders

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa (R) attends a shareholders meeting in Tokyo on June 29. He was approved to remain at the helm of Japan Post despite a series of scandals such as an aborted attempt to sell the Kampo-no-yado resort network.

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Japan Post submits business improvement plans

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa (R) submits a set of business improvement plans to Internal Affairs and Communications Minister Tsutomu Sato at Saito's ministry in Tokyo on June 24.

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Minister Sato OKs Nishikawa's reappointment as Japan Post head

TOKYO, Japan - Internal affairs minister Tsutomu Sato meets the press after talks with Japan Post Holdings Co. President Yoshifumi Nishikawa at his office on June 22. Sato said he has decided to authorize the reappointment of Nishikawa after he offered to take a disciplinary pay cut over a scandal involving an abortive plan to sell the Kampo-no-yado nationwide resort inn network.

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Minister Sato meets Japan Post Pres. Nishikawa

TOKYO, Japan - Internal affairs minister Tsutomu Sato (L) holds talks with Japan Post Holdings Co. President Yoshifumi Nishikawa (R) at his office on June 22.

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Japan Post President Nishikawa offers to discipline himself

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa (standing) answers questions during a House of Representatives committee session on June 18. Nishikawa offered to discipline himself over scandals, such as the company's failed sale of the Kampo-no-yado nationwide resort inn network, while suggesting that he intends to remain as president.

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Hatoyama leaves Cabinet over Japan Post row

TOKYO, Japan - Internal Affairs and Communications Minister Kunio Hatoyama speaks to reporters at the prime minister's office in Tokyo on June 12 after submitting his resignation to Prime Minister Taro Aso. The move came after Aso decided to have Yoshifumi Nishikawa stay in the post of president of the government-owned Japan Post.

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Japan Post Holdings reports 422.79 bil. yen net profit for FY 2008

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa speaks during a press conference in Tokyo on May 22.

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Hatoyama issues business-improvement order to Japan Post

TOKYO, Japan - Internal affairs minister Kunio Hatoyama speaks at a news conference at the ministry on April 3 after delivering a business-improvement order to Japan Post Holdings Co. President Yoshifumi Nishikawa.

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Hatoyama issues business-improvement order to Japan Post

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa speaks to reporters in Tokyo on April 3 after receiving a business-improvement order from internal affairs minister Kunio Hatoyama.

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Hatoyama issues business-improvement order to Japan Post

TOKYO, Japan - Internal Affairs and Communications Minister Kunio Hatoyama (L front) hands a business-improvement order to Japan Post Holdings Co. President Yoshifumi Nishikawa (R) at the ministry on April 3. Hatoyama issued the order following Japan Post's aborted contract to sell the ''Kampo-no-yado'' nationwide resort inn network.

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Minister urges Japan Post to make Kampo inn network profitable

TOKYO, Japan - Internal Affairs and Communications Minister Kunio Hatoyama (L) hands over to Yoshifumi Nishikawa, president of Japan Post Holdings Co., a note to approve Japan Post's business program for fiscal 2009 at his office in Tokyo on March 31.

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Japan Post, Orix agree to cancel 'Kampo-no-yado' inn network sale

TOKYO, Japan - Japan Post Holdings Co. President Yoshifumi Nishikawa is surrounded by reporters and photographers at the Internal Affairs and Communications Ministry in Tokyo on Feb. 13 after talks with communication minister Kunio Hatoyama. Nishikawa was quoted as telling Hatoyama that Japan Post and leasing firm Orix Corp. have agreed to cancel a controversial 10.9 billion yen contract for Japan Post's sale of 70 ''Kampo-no-yado'' inns and nine housing facilities to Orix.

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Japan Post, Orix agree to cancel 'Kampo-no-yado' inn network sale

TOKYO, Japan - Internal Affairs and Communications Minister Kunio Hatoyama speaks to reporters at his ministry in Tokyo on Feb. 13 after talks with Japan Post Holdings Co. President Yoshifumi Nishikawa. Hatoyama said Japan Post and leasing firm Orix Corp. have agreed to cancel a controversial 10.9 billion yen contract for Japan Post's sale of 70 ''Kampo-no-yado'' inns and nine housing facilities to Orix.

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Japan Post sees higher than expected profits in 1st 6 months

TOKYO, Japan - Yoshifumi Nishikawa, president of Japan Post Holdings Co., briefs reporters on the company's group earnings report for the first six months of its 10-year privatization process in Tokyo on May 30.

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Japan Post forms comprehensive business alliance with Lawson

TOKYO, Japan - Lawson Inc. President Takeshi Niinami (L) and Japan Post Holdings Co. President Yoshifumi Nishikawa pose for photographers at a news conference in Tokyo on Feb. 12 after the two companies announced they have signed an agreement to form a comprehensive business alliance that includes developing around 800 joint stores throughout Japan in three years.

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Japan starts 10-year postal privatization process

TOKYO, Japan - A ceremony to launch the process of privatizing Japan's state-run postal services is held in Tokyo on Oct. 1. From L to R are former Prime Minister Junichiro Koizumi, former Japan Post President Masaharu Ikuta, Japan Post President Yoshifumi Nishikawa, Prime Minister Yasuo Fukuda and Internal Affairs and Communications Minister Hiroya Masuda.

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Japan Post to review business ties for profitability: new chief

TOKYO, Japan - Japan Post President Yoshifumi Nishikawa said April 2 the public entity for postal services will review its business and capital relations with some 70 companies and affiliates in a bid to streamline operations before its privatization in October.

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Privatized postal services may lose their teeth

TOKYO, Japan - Yoshifumi Nishikawa (R), president of Japan Post Holdings, hands a working plan for privatization of Japan Post to Heizo Takenaka, internal affairs and communications minister, at the ministry in Tokyo's Kasumigaseki district on July 31.

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Japan Post plans service expansion after privatization

TOKYO, Japan - Japan Post Corp. President Yoshifumi Nishikawa (R) and Internal Affairs and Communication Minister Heizo Takenaka (L) hold a news conference in Tokyo on July 31 after Nishikawa handed Takenaka an outline of its 10-year postal privatization road map.

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Japan Post plans service expansion after privatization

TOKYO, Japan - Japan Post Corp. President Yoshifumi Nishikawa (R) hands an outline of the company's 10-year postal privatization road map to Internal Affairs and Communication Minister Heizo Takenaka on July 31.

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Postal privatization planning firm begins operations

TOKYO, Japan - Yoshifumi Nishikawa (L), president of Japan Post Corp., a new stock company set up by the public corporation Japan Post, speaks during a news conference in Tokyo on Jan. 23 after a ceremony to begin operations of the new company in the buildup to Japan's postal privatization from October 2007.

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Postal privatization planning firm begins operations

TOKYO, Japan - Yoshifumi Nishikawa (L), president of Japan Post Corp., a new stock company set up by the public corporation Japan Post, and Internal Affairs and Communications Minister Heizo Takenaka (R) cut the tape in a ceremony in Tokyo on Jan. 23 as the new company began operations the same day in the buildup to Japan's postal privatization from October 2007.

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Planning firm for postal privatization selects president, directors

TOKYO, Japan - Internal Affairs and Communications Minister Heizo Takenaka addresses an inaugural meeting of a company to prepare for Japan's postal privatization in 2007 held at a Tokyo hotel on Jan. 20. The meeting chose former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa as its president. Takenaka said, ''Postal privatization will have the historic meaning of creating Japan's new market economy for the 21st century.''

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Planning firm for postal privatization selects president, directors

TOKYO, Japan - A company to prepare for Japan's postal privatization in 2007 held its inaugural meeting at a Tokyo hotel on Jan. 20. The meeting named former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa as its president.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - Former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa speaks at a press conference at the internal affairs and communications ministry on Nov. 11 after being named to head a holding firm which will be founded in October 2007 for the privatization of Japan's postal system.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - Heizo Takenaka (L), minister of internal affairs and communications, and former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa smile at a question from one of reporters during a press conference on Nov. 11. The government has picked Nishikawa as president of a holding firm to be founded in October 2007 for the privatization of Japan's postal system.

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Ex-top banker Nishikawa to head key firm for postal system privatization

TOKYO, Japan - File photo shows former Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa, who was picked by the government on Nov. 11 as president of a holding firm to be founded in October 2007 for the privatization of Japan's postal system. Nishikawa accepted the post in a meeting with Prime Minister Junichiro Koizumi.

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Mizuho Financial Group's Maeda becomes bankers' association chairman

TOKYO, Japan - Mizuho Financial Group Inc. President Terunobu Maeda speaks at a press conference in Tokyo on April 19 on assuming the post of chairman of the Japanese Bankers Association, succeeding Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc. Maeda said, ''My two major goals are to activate financial markets and to raise confidence in financial institutions.''

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(2)Kitayama to succeed Nishikawa as SMFG president

TOKYO, Japan - Sumitomo Mitsui Banking Corp. Deputy President Masayuki Oku (L), who will promoted to the presidency, speaks at a press conference in Tokyo on April 19 flanked by Sumitomo Mitsui Financial Group Inc. Deputy President Teisuke Kitayama (R), who was named to succeed Yoshifumi Nishikawa as president. The top management reshuffle will take effect on June 29, the financial group said.

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Kitayama to succeed Nishikawa as SMFG president

TOKYO, Japan - File photo shows Sumitomo Mitsui Financial Group Inc. Deputy President Teisuke Kitayama who was named April 19 to succeed Yoshifumi Nishikawa as president. The top management reshuffle will take effect on June 29, the financial group said.

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Banks opt for compensation for cash card forgery victims

TOKYO, Japan - Japanese Bankers Association Chairman Yoshifumi Nishikawa speaks at a press conference in Tokyo on March 22. Nishikawa said the association has begun revising the regulations on cash cards to ensure banks compensate victims of cash card forgery crimes.

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Sumitomo Mitsui's Nishikawa likely to quit

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa (file photo) is considering resigning, financial sources said Feb. 4. Earlier in the day, two Japanese dailies, the Yomiuri Shimbun and the Mainichi Shimbun, reported that SMFG may book a consolidated net loss for the current fiscal year because of increased loan-loss reserves.

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Sumitomo Mitsui to continue pushing for merger with UFJ

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa speaks in an interview with Kyodo News in Tokyo on Aug. 25. Nishikawa said the banking group will continue to press ahead with a proposed merger with smaller ailing rival UFJ Holdings Inc.

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New banking industry chief confident about bad-loan disposal

TOKYO, Japan - Yoshifumi Nishikawa, nhe new chairman of the Japanese Bankers Association, speaks at his inaugural press conference in Tokyo on April 20. He voiced confidence over the disposal of nonperforming loans and said banks will continue efforts to do so to restore the public's trust in the banking sector.

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Sumitomo Mitsui boosts group net profit

TOKYO, Japan - Sumitomo Mitsui Financial Group Inc. President Yoshifumi Nishikawa tells a news conference in Tokyo on Nov. 25 its group net profit in the six months to Sept. 30 surged 160.2% over a year earlier to 143.49 billion yen despite a 0.1% fall in operating revenues to 1,760.84 billion yen.

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Sumitomo Mitsui, Goldman, Daiwa to form corporate revival firm

TOKYO, Japan - (From L to R) Masanori Mochida, president of Goldman Sachs Group Inc., Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc., and Masayasu Oi, president of Daiwa Securities SMBC Principal Investments Co., shake hands at a news conference in Tokyo on Oct. 8. Sumitomo Mitsui will set up a joint company with Goldman and Daiwa in November to help revive troubled companies.

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Sumitomo Mitsui to sell preferred shares to Goldman

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc. speaks at a press conference at the Bank of Japan's head office in Tokyo on Jan. 15 about a plan to sell preferred shares to U.S. investment bank Goldman Sachs Group Inc.

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SMBC voices readiness to recapitalize by end of FY 2002

TOKYO, Japan - Yoshifumi Nishikawa, president of Sumitomo Mitsui Banking Corp. (SMBC), speaks in an interview with Kyodo News in Tokyo on Dec. 30. Nishikawa expressed his readiness to expand his bank's capital base by the March 31, 2003 end of the current fiscal year.

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Top bankers criticize Takenaka's bank policy

TOKYO, Japan - The heads of Japan's four major banking groups criticize Financial Services Minister Heizo Takenaka's bank policy in Diet testimony Dec. 3. The House of Councillors Financial Affairs Committee summoned as unsworn witnesses (from R to L) Terunobu Maeda, president of Mizuho Holdings Inc., Shigemitsu Miki, president of Mitsubishi Tokyo Financial Group Inc., Masashi Teranishi, president of UFJ Bank, and Yoshifumi Nishikawa, president of Sumitomo Mitsui Financial Group Inc.

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SMBC midyear net profit jumps 61.3%

TOKYO, Japan - Sumitomo Mitsui Banking Corp. (SMBC) President Yoshifumi Nishikawa announces in Tokyo on Nov. 25 that the bank's group net profit in the first half of fiscal 2002 rose 61.3% from a year earlier, improving sharply from a 68.1% drop the previous midyear and a 463.89 billion yen full-year loss posted in fiscal 2001.

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Top bankers call for careful approach in corporate revival

TOKYO, Nov. 15 Kyodo - Sumitomo Mitsui Banking Corp. President Yoshifumi Nishikawa (standing) testifies to the House of Representatives Financial Affairs Committee in the Diet in Tokyo on Nov. 15. Mizuho Holdings Inc. President Terunobu Maeda sits at Nishikawa's left and UFJ Bank President Masashi Teranishi at Nishikawa's right. At right is Mitsubishi Tokyo Financial Group Inc. President Shigemitsu Miki.