Gov’t authorizes Japan Post’s takeover of Daimaru’s trucking unit
The Ministry of Internal Affairs and Communications said Friday it has granted a request by Japan Post to buy a controlling stake in Asocia Corp., a wholly owned trucking arm of department store Daimaru Inc.
In its first corporate acquisition, the postal services corporation has been permitted to buy a 67.6 percent stake in Asocia in the near future for 650 million yen, turning the Osaka-based trucking company into a subsidiary.
The trucking company’s lines of business at present include storing, packing and delivering gifts on behalf of Daimaru and its group companies.
The deal will help Japan Post become a comprehensive delivery company whose business areas include the packing of mail packages.
Japan Post will seek to land orders for its delivery services from not only Daimaru but also other department store chains.
