Japan Post sets up first overseas office in Beijing
Japan Post, the state-owned mail operator set for privatisation, said Monday it would open its first overseas office in Beijing to explore opportunities in China’s booming cargo market.
The office, which is expected open around mid-May, will conduct research on Chinese demand for international cargo services.
Japan Post is looking overseas for new growth opportunities with its domestic mail services losing money.
It aims to set up its second overseas foothold in Shanghai, he said.
“We picked China as the first base because it is the market we should pay the highest attention to,” Japan Post senior managing executive officer Yoshiaki Hompo told reporters.
Japan Post and major carrier All Nippon Airways announced in January they would establish a new joint venture cargo airline, ANA and JP Express, aiming to launch flights in August.
Top Japanese land and sea transportation firms — Nippon Express and Mitsui O.S.K. Lines — are also joining the business.
FedEx of the United States, Deutsche Post-owned DHL and other Western logistics giants have already entered the Chinese market.
Japan Post has also agreed with TNT of the Netherlands to join hands in international air cargo services.
The government is to privatise Japan Post over 10 years from October 2007 under a signature reform plan of Prime Minister Junichiro Koizumi.
Koizumi fought for years to break up Japan Post, which many Japanese use as a bank and which sits on more than three trillion dollars in savings and insurance assets.
