Japan Post mail services produce 20bn yen

Japan Post’s mail services restored profitability with a profit of over 20billion yen in the fiscal year to March 2004, President Masaharu Ikuta said.

This compares with a loss of 22.5billion yen for the previous fiscal year.

Japan Post are due to announce its earnings result for the just-ended term on Tuesday.

At a general meeting of post office operators in this northern Japan city, Ikuta noted that mail services will inevitably decline on a volume basis in the years ahead amid increasing competition from private-sector distributors and the spread of e-mail.

He also stressed the need for Japan Post to increase its business efficiency and enhance customer satisfaction in order to keep posting profits.