Deutsche Post forms Japan mail joint venture with Yamato
Deutsche Post AG said its DHL Global Mail unit has agreed to form a joint venture for mail delivery services in Japan with Yamato Holdings.
The new venture will be 49 pct held by the German company, and is the first of its kind in Japan for a foreign company.
It will focus on the direct marketing – or ‘non-correspondence’ – segment, which is the only part of the Japanese mail market which is open to competition, Deutsche Post said.
No financial details of the agreement were reported.
The two companies have cooperated on international mail deliveries since 2004.
Private mail and parcel delivery company Yamato generates annual revenues of around 8 bln eur.
