Japan Post Service, Sankyu to form air cargo venture
Japan Post Service and transport services company Sankyu will create a joint venture in July to launch international air cargo services mainly in Asia.
The joint venture will be owned 60 percent by Japan Post Service and 40 percent by Sankyu.
Sankyu will spin off its air cargo division, with current annual sales of around USD 89 million, and Japan Post will invest in the spinoff.
The joint venture will arrange cargo transportation including for parcels and will prepare Customs clearance documents. Its cargo collection and delivery services will be based on Sankyu’s existing overseas network and Japan Post Service’s network in Japan.
Japan Post Service is one of four firms owned by Japan Post Holdings. The five firms were created when the Japanese postal system was broken up for privatisation last October.
Japan Post Service and transport services company Sankyu will create a joint venture in July to launch international air cargo services mainly in Asia.
The joint venture will be owned 60 percent by Japan Post Service and 40 percent by Sankyu.
Sankyu will spin off its air cargo division, with current annual sales of around USD 89 million, and Japan Post will invest in the spinoff.
The joint venture will arrange cargo transportation including for parcels and will prepare Customs clearance documents. Its cargo collection and delivery services will be based on Sankyu’s existing overseas network and Japan Post Service’s network in Japan.
Japan Post Service is one of four firms owned by Japan Post Holdings. The five firms were created when the Japanese postal system was broken up for privatisation last October.
