Tag: Japan

Japan Post group sees higher than expected profits in 1st 6 months+

Posted by | May 30, 2008 | |

Japan Post Holdings Co. said last Friday 30 May, its business performance in the first six months of its 10-year privatization process exceeded its expectations with a consolidated net profit of 277.2 billion yen during the October-March period.

The figure was 29 percent higher than an initial projection due in part to robust earnings results delivered by Japan Post Bank.

The postal bank recorded a net profit of 152.1 billion yen, up 17 percent from an initial estimate, thanks to good returns on investments mainly in government bonds.

Japan Post Network Co., however, logged a net profit of only 4.6 billion yen, 86 percent lower than expected, because of stagnant commissions revenue from its group firms, indicating that the company, which administers around 24,000 post offices across the country, represents a particularly weak spot for the four-company Japan Post group.

Japan Post Insurance Co.’s net profit of 7.6 billion yen was a tad lower than the earlier projection of 8 billion yen.

In addition to the three group firms above, Japan Post Holdings presides over Japan Post Service Co., its mail service arm.

1 JPY = 0.00949762 USD

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DHL Japan fuel-cell car on display at ECO CAR WORLD 2008

Posted by | May 21, 2008 | |

DHL and pilot user of the Daimler AG (DAG) “F-cell” fuel-cell vehicle, was proud to contribute to the display of this environmentally-friendly vehicle by Mercedes-Benz Japan Co., Ltd. (MBJ) at the ECO CAR WORLD 2008 IN KOBE, which took place at Kobe Meriken Park from 17 – 18 May 2008.

DHL has been using the model since July 2006 as part of its ‘Green Logistics’ environmental initiative in Japan.

The “F-cell” vehicle will also be displayed at the ECO CAR WORLD 2008 IN YOKOHAMA, which will take place at Yokohama Red Brick Warehouse from 7 – 8 June 2008.

As part of DHL’s ‘Green Logistics’ initiative – launched in Japan in July 2006 – DHL Japan introduced the F-cell to its vehicle fleet.

The F-cell, the world’s first mass-produced fuel-cell car, is modeled on the Mercedes-Benz A Class and is powered by compressed hydrogen.

DHL has been testing the vehicle under actual working conditions by using it for the collection and delivery of documents in downtown Tokyo, especially in the bustling Otemachi district.

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Japan Post Bank to invest Y1 trln overseas

Posted by | May 20, 2008 | |

Japan Post Bank, the country’s largest bank, plans to invest at least 1.0 trillion yen (USD 9.59 billion) in overseas assets in the financial year to next March, the Nikkei newspaper reported on Tuesday.

The report, citing no sources, said Japan Post Bank plans to invest in European and U.S. corporate bonds including securitised products through overseas asset management firms, tapping their expertise in investing in attractive, but high-risk corporate bonds.

The report said Japan Post Bank itself plans to invest in triple-A rated corporate bonds.

The report gave no details about allocations by currency or product type. It cited BlackRock as a possible asset mangement firm Japan Post Bank could cooperate with.

The report said the bank plans to gradually boost the amount it invests overseas, while seeking to limit market impacts.

Japan Post Bank is one of four business units created within state-owned Japan Post on Oct. 1 to begin a 10-year privatisation process.

At the end of September, the bank held some 181 trillion yen (USD 1,735 billion) in postal savings, of which nearly 90 percent was invested in domestic bonds, with only marginal shares in stocks and foreign assets. (USD 1=104.31 Yen)

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Nippon Express Denies Abolition of "Pelican" Parcel Service

Posted by | May 20, 2008 | |

Nippon Express Co. denied a news report that its “Pelican”-brand parcel delivery service will be abolished when the company and Japan Post Service Co. integrate their door-to-door package delivery operations in April 2009.

The major Japanese daily Asahi reported in its Monday morning edition that the 30-year-old Pelican brand will be scrapped as Nippon Express and Japan Post Service are set to use the latter’s “You-pack” brand for their joint parcel delivery operations.

Nippon Express and Japan Post Service, a postal service unit of Japan Post Holdings Co., will set up a fifty-fifty joint firm, named JP Express, in June this year to prepare for the integration.

Given that Japan Post Service will later take majority control of JP Express, there is still a possibility of the Pelican brand being scrapped for integration into the You-pack brand.

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