Japanese firm to rival SingPost
Japanese logistics provider Yamato Transport is preparing to challenge SingPost for half of the domestic-delivery market in Singapore, reports Asia One Business The Tokyo-based company launched its Ta-Q-Bin service on 8 January.
Kaoru Seto, president of parent company Yamato Holdings, said: “Yamato aims to achieve an annual delivery volume of 400,000 parcels in the first year of Ta-Q-Bin’s operation in Singapore and hopes to increase the number to 8m parcels in the next 10 years.”
Yamato Transport managing director Naoki Toda said: “We’re projecting a 4% market share in the first year and hope to capture 50% of the market in 10 years.”
To reach its target, the company has set aside 3.05bn yen (S$46m) over the next 10 years. It aims to break even in three years, recover investment outlay by the sixth year and earn about 400m yen in annual profits within 10 years, said the news agency.
