Image of Asia: Reflections on Japan Post stock debut
In this photo by Shizuo Kambayashi, people are reflected on an electronic stock indicator of a securities firm in Tokyo. Japanese markets surged on Wednesday’s debut of Japan Post, the state-owned company making the world’s biggest initial public offering of stock this year. The Japan Post sale is meant to tease out some of the more than $14 trillion that Japanese have squirreled away in savings accounts. Japan more than a decade ago began privatizing its postal system and the postal banks that are the backbone of the country’s massive household savings pool.