Yamato Transport Co plans to double the number of its parcel collection points to 5,000 in five years in an effort to better compete with Japan Post, which operates about 24,700 post offices nationwide, the Nihon Keizai Shimbun reported, citing company sources. Yamato hopes to set up more collection points in shops and other convenient locations and establish new offices dedicated to its direct mail service.
Read MorePrivate players won’t likely be impressed with its makeover. Japan Post has only been in business since Tuesday and is well in the process of emulating private sector practices. But private delivery firms are hardly likely to welcome a leaner, meaner rival that also happens to be a public corporation. Private companies wishing to enter the potentially lucrative market for mail delivery can expect to be tied down by numerous restrictions that do not apply to Japan Post.
Read MoreFive companies filed applications for a license for restricted mail delivery service with the Japan Posts Ministry on Tuesday, when the ban on private-sector entry into the mail delivery business was lifted. But no applications were filed for the nationwide mail delivery service. The deregulation step is thus expected to do little in promoting competition.
Read MoreThe governmental Postal Services Agency became Japan Post, a public corporation, on Tuesday, marking the first major reform of Japan’s modern postal system.
Prime Minister Junichiro Koizumi told reporters Tuesday that launching Japan Post is the same as “having made the first step in privatizing the postal services,” a pet project he views as a key pillar of his cabinet’s structural reform plans.
Read MoreThe balance of Japan’s “yucho” postal savings at the end of fiscal 2002 was down 2.6 pct from a year before at 233,192.4 billion yen, Japan Post said Tuesday.
The balance fell for three consecutive years, after dropping for the first time ever in fiscal 2000
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