Majority of Japan Post offices in loss in FY ’04

Over 70 pct of Japan’s 20,000-plus post offices reported losses for the fiscal year that ended in March this year, Japan Post said Monday.

Of 20,242 post offices nationwide, 14,661 suffered losses for the year, an increase of 500 from the previous year, the public corporation said.

By business division, 18,993 post offices, or 93.8 pct of the total, incurred losses in their mail delivery operations, while the number of loss-making offices nearly matched that of profitable ones in postal savings and insurance operations, Japan Post said.