Japan Post forecasts operating loss for 2010
Japan Post is expecting an operating loss of 16.3bn yen ($173.7m) in fiscal 2010, according to media reports. It would be the company’s first operating loss in eight years.
Nikkei said the group has “increased costs to absorb parcel delivery operations of a joint venture with Nippon Express Co. after its planned liquidation is likely to weigh on the postal firm’s earnings.”
In line with the world trend, mail volumes in Japan are likely to fall under the 20bn mark.
Despite of this, Japan Post Service expects to make a 6.3bn yen ($67.2m) net profit due to corporate tax refunds.
