Japan Post Bank to Conduct $4.22 Billion Secondary Share Offering

Japan Post Holdings intends to divest its stake in Japan Post Bank through a secondary share sale valued at up to 630 billion yen ($4.22 billion), according to a regulatory filing on Thursday. This move aligns with the ongoing corporate governance reforms in Japan, which are focusing on scrutinizing "parent-child" listings and urging companies to enhance their free-float share ratios. (The exchange rate is $1 = 149.3400 yen)