IT IS THE largest piggy bank in the world. Yucho, the postal savings arm of Japan Post, has $2 trillion in assets, most of which is Japanese citizens’ money stored in accounts yielding little more than 1%. Now this vast store of dormant capital is set to be unleashed on the private sector: the IPO is set for 2011, but the bank will begin reorganizing its portfolio under supervision from next August. Many have welcomed the reform, which promises to have the dual effects of curbing the questionable practice of converting savers’ money into funding for useless infrastructure projects and stimulating the country’s sluggish economic reform.
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