Japan Post to Own 66 Pct of Parcel Delivery JV with Nippon Express
Japan Post Holdings Co. and Nippon Express Co. will own 66 pct and 34 pct, respectively, of their parcel delivery joint firm, the two companies announced.
The current fifty-fifty joint venture, JP Express Co., was set up in Tokyo in June to prepare for the integration of the two companies’ parcel delivery operations on April 1 next year.
The two also agreed to raise the capital of JP Express to 50 billion yen by April from the current 300 million yen.
The new firm will target sales of 280 billion yen in the year starting April and expects to handle some 520 million parcels.
It is targeting a domestic market share of 16 pct, the largest after Yamato Transport Co. and Sagawa Express Co.
It will have a workforce of 11,000, mostly on loan from Japan Post and Nippon Express, and 260,000 service outlets nationwide, including those at convenience stores.
The firm will also launch a new brand to replace Japan Post’s “Yu-Pack” and Nippon Express’ “Pelican” brands.
Japan Post Holdings Co. and Nippon Express Co. will own 66 pct and 34 pct, respectively, of their parcel delivery joint firm, the two companies announced.
The current fifty-fifty joint venture, JP Express Co., was set up in Tokyo in June to prepare for the integration of the two companies’ parcel delivery operations on April 1 next year.
The two also agreed to raise the capital of JP Express to 50 billion yen by April from the current 300 million yen.
The new firm will target sales of 280 billion yen in the year starting April and expects to handle some 520 million parcels.
It is targeting a domestic market share of 16 pct, the largest after Yamato Transport Co. and Sagawa Express Co.
It will have a workforce of 11,000, mostly on loan from Japan Post and Nippon Express, and 260,000 service outlets nationwide, including those at convenience stores.
The firm will also launch a new brand to replace Japan Post’s “Yu-Pack” and Nippon Express’ “Pelican” brands.
