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TOKYO -- The president Jordan shoes of Japan's postal service said Tuesday he will resign, in a symbolic blow to the previous government's efforts to privatize the sprawling firm -- once considered a signature free-market overhaul of the then-ruling Liberal Democratic Party. Yoshifumi Nishikawa, president of Japan Post Holdings Co., said he will resign as Japan's new ruling party moves forward with a broad review of the privatization of the postal service, which also offers banking and financial services and holds billions of dollars in Japanese household savings. The review has some investors worried that the new government is moving away from the previous administration's pro-market overhauls. "I decided to resign as I felt a gap between [the privatization review] and what we have done and what we were trying to do," Mr. Nishikawa said at a news conference. "So I can't stay at this post any longer." Mr. Nishikawa said he will submit his resignation to the executive board on Oct. 28. The move Australia Ugg Boots comes as the Democratic Party of Japan, which took power last month after a landslide electoral victory in August, moves to undo many of the market-oriented efforts of former Prime Minister Junichiro Koizumi and his successors. Such free-market overhauls have fallen out of favor as the economy weakened and companies cut staff. The global financial crisis added to public concerns about private-sector lenders. And fears grew that the postal privatization could result in fewer services and jobs. During its campaign, the DPJ criticized the postal-privatization plan, saying it worsened postal services and operations, especially in rural areas. It says it wants post offices across Japan to be able to once again offer savings and insurance operations, rather than through separate units, a break from the previous government's policy. The chairman of the Japanese Bankers' Association, which represents Japan's commercial banks, said Tuesday that private banks would face unfair competition from a government-owned Japan Post that offers banking services. If Japan Post isn't privatized, its "business expansion shouldn't be allowed," Katsunori Nagayasu said. The privatization had been the centerpiece of Mr. Koizumi's efforts to shrink the size of Japan's government and implement market changes. Proponents saw the move as a way to tap its considerable store of household savings to bolster Japan's slow-growth economy. In the fiscal year ended in March, Japan Post's bank arm held $1.953 trillion in deposits. Japan Post Air Jordan 6 officials "have no special investment know-how, so they invest in Japanese government bonds. This is not sustainable," said Heizo Takenaka, who promoted deregulation and the privatization of Japan Post as a cabinet member under Mr. Koizumi. "This is very bad for Japan. Stopping privatization will delay competition in the financial-service sector and the revitalization of the nation's economy," he said. Private-sector banks also saw opportunity in the privatization, from fees through the initial public offerings to a greater ability to sell their own financial products through Japan Post's deregulated network. Under the plan, Japan Post was divided into four parts and was planning to float its saving and insurance units on the stock exchange as early as next year. It would become wholly privatized by 2017. The privatization effort also bogged down amid political infighting and a series of mishaps. Japan Post was forced to cancel the sale of a chain of affiliated inns to a private company after government officials said the process wasn't transparent.

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