Yamato posts loss for Q1
Japanese parcel delivery company Yamato has posted a 10bn yen loss for the first quarter (Q1). This compares to a profit of 7.4bn yen for Q1 2016.
As previously reported, Yamato has been struggling to keep pace with the e-commerce-driven surge in parcel volumes. The company is reportedly facing a staff shortage and has had to increase its use of third party delivery firms to make up the shortfall.
In May, the company was reportedly looking at plans to hire more than 9,000 new delivery workers to help relieve the strain.
Click here to see Yamato’s quarterly statement.
