Japan Post Insurance Co. Ltd. is looking to acquire both overseas and locally, The Nikkei reported Aug. 3, citing the company's president Mitsuhiko Uehira.

This is aimed at expanding the company, he added, given that organic growth is limited by a stagnant Japanese market where the population is shrinking.

Under Japanese regulations, any acquired stake in a target company would have to be under 50%, as Japan Post Insurance parent Japan Post Holdings Co. Ltd. is partly owned by the government.