BoJ's Iwata says fair competition important

Bank of Japan deputy governor Kazumasa Iwata on Thursday 7 December underscored the need to ensure fair competition between two subsidiaries of Japan Post when the 10-year postal privatisation process begins in October.

"Realizing an environment for fair and healthy competition is indispensable for financial institutions to develop new services and continue innovations in the area of retail banking," Iwata said at a Tokyo seminar on retail banking strategies.

"We assume the units that are sched