Japan Post was a government-owned firm in Japan that provided mail and package delivery services, financial services, and life insurance from 2003 until 2021. With approximately 400,000 employees and 24,700 post offices around Japan, it is the country's largest employer. Japan Post employs one-third of all Japanese government employees. Masaharu Ikuta, formerly Chairman of Mitsui O.S.K., was the company's President as of 2005. Following a tumultuous political discussion that was settled by the 2005 general election, Japan Post was privatized on October 1, 2007. The main source of concern was Japan Post, which was stifling competition and providing politicians access to postal savings to fund pet projects with official backing. Japan Post was divided into three businesses in 2007, with the intention of privatizing it by 2017. Japan Post Holdings now runs the postal service.Postal operations, banking counter operations, insurance counter operations, documentary stamp sales, operations consigned by local government entities, bank and life and non-life insurance agency services other than those mentioned previously, domestic and international logistics business, logistics business, real estate business, and merchandise sales are all major lines of business for Japan Post.