Bike Kyubin Co. and three other private courier companies on Tuesday began special mail delivery services designating delivery time. The three others are QCargo Co., Q-Post and Pro Support. The moves follow the creation April 1 of Japan Post to take over mail delivery and postal savings from the governmental Postal Services Agency as part of postal service deregulation.
Read MoreAn advisory panel for the posts minister said in a report Friday it would be appropriate to license three companies to provide mail delivery services, that were opened to the private sector in April.
The entry of the three companies will bring the number of firms licensed by the Public Management, Home Affairs, Posts and Telecommunications Ministry for limited mail delivery services to 11.
Read MoreJapanese banks face a rival in the mutual-fund business, less than five years after the government let them sell funds. The newcomer: Japan Post, the state-owned postal agency that holds a sixth of the nation’s 1,400 trillion yen (USD11.9 trillion) in personal savings.
Banks and brokerages may lose business when Japan Post starts selling funds, as it expects to do by March. The government, which must gain lawmakers’ backing for the move, is counting on postal savers to shift money into funds, boosting a stock market that reached a 20-year low in April.
Read MoreDespite the current volatility of the economic climate, United Parcel Service Inc., the world’s largest package delivery company, will actively expand operations in Japan, according to the head of UPS Asia Pacific Region. Although the domestic economy has been in the doldrums for some 10 years, Kenneth Torok, president of UPS Asia Pacific Region, believes it will rebound.
Read MoreNine banking industry groups, including those for both major banks and smaller savings institutions, issued a joint statement Monday, voicing opposition to the government’s plan to let post offices sell investment trusts.
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