Japan Post and TPG of the Netherlands seeking alliance
Japan’s state postal service plans to form a business alliance with the Dutch post and logistics group TPG, a media report said Wednesday.
TPG executives have been holding talks here with Japan Post since Tuesday on details of the alliance expected to focus on international express services, the Jiji Press news agency reported.
No official was immediately available at Japan Post to confirm the report.
The two companies signed an agreement late last year to aim for a “strategic alliance to become leading players in the express and logistics market in Asia,” Jiji added.
It said Japan Post, due to be privatised in April 2007, wants to boost its presence in the international express business, particularly in Asia, through the alliance with TPG.
The alliance may be formed in the fiscal year to March 2006, Jiji said after correcting an earlier report.
The two firms are considering establishing a joint venture and an air freight network in Asia as well as a capital tie-up as long-term possibilities, Jiji said.
Rivals such as United Parcel Service and Federal Express of the United States have been expanding their foothold in the region.
