The ruling Liberal Democratic Party wants to raise the deposit limit at state-owned Japan Post Holdings Co.'s lending arm before a planned initial public offering later this year, according to a lawmaker who is backing the change.
A higher ceiling than the current ¥10 million cap for individuals will narrow the gap between Japan Post Bank Co. and private banks, LDP member Hiroshi Moriyama said in an interview Wednesday.
Moriyama, who is secretary-general of an LDP committee discussing the revision, said the group will seek opinions from financial companies as the matter requires "careful consideration."