Japan's Postal Mail service to log 38B Yen annual loss
Japan’s state-run postal mail service will incur losses of 37.9 billion yen in the year to March 2003 due to a slump in corporate demand, against the initial estimate of a profit of one billion yen, the government said Friday.
Postal mail revenue in the year is now projected to fall 4.1 pct from the previous year to 1,966.6 billion yen, said the Ministry of Public Management, Home Affairs, Posts and Telecommunications. This is down from the initial estimate of 2,052.3 billion yen.
The mail business’ expenses are likely to be 42.8 billion yen lower than the initial estimate, thanks to reduction in procurement and other costs, the ministry said.
