Tag: Japan

Blue Dart to sell stake in aviation arm to enable takeover by DHL

Posted by | Nov 22, 2004 | |

Courier company Blue Dart Express has decided to divest its stake in its wholly-owned subsidiary Blue Dart Aviation Ltd in order to facilitate the acquistion of the parent company by global logistics major DHL Express. The company said in a notice issued to BSE: “The board of Blue Dart Express Ltd has approved the divestment/sale of equity shares of Blue Dart Aviation Ltd, being its wholly-owned subsidiary company up to 100percent of the equity share capital.” Under the foreign direct investment (FDI) guidelines for the aviation sector, the foreign holding in airlines has been capped at 49percent. DHL, which has inked a deal to buy a 68.2percent stake in the company for Rs 566 crore and announced an open offer for another 20percent would have exceeded this cap by virtue of its shareholding in the parent company.

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FedEx to expand Kinko’s in Asia, posts China boom

Posted by | Nov 17, 2004 | |

FedEx Corp. is posting explosive growth in China and now plans to expand its Kinko’s copy-chain across Asia, a senior executive said on Wednesday. FedEx, which vies with Deutsche Post’s DHL Express and United Parcel Service Inc in the global courier arena, is trying to muscle in on an insular sector that it says could one day be the world’s top cargo market. Analysts estimate it could be worth USD1.5 billion annually. FedEx’s delivery volumes in China grew 52 percent in the quarter ended Aug. 31, said David Cunningham, FedEx’s Asia Pacific president. He did not elaborate. The US firm does not divulge sales by country or region. Now FedEx also wants to pump up the number of Kinko’s outlets in Asia to incorporate it into its global courier network and bring in more customers.

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Gov’t projects Japan Post spin-offs’ profit to decline over 10 yrs

Posted by | Nov 17, 2004 | |

The government projected Wednesday that all four spin-offs of Japan Post will be in the black in fiscal 2008 but, without new business, profits at three units will decline by the time the postal privatization process is completed in fiscal 2016. According to the estimate released by postal reform minister Heizo Takenaka, only the spin-off in charge of postal insurance will be in the red in fiscal 2007, when the 10-year privatization process begins. The remaining three will take over mail delivery, postal savings and post office network management from Japan Post. The projection is based on the assumption that the four entities do not start new businesses. “The business environment (for the Japan Post spin-offs) will become severe in 10 years. It is necessary to increase freedom in their management during that period,” Takenaka told a press conference, indicating his view that it is inevitable the entities will start new businesses.

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Four Japan Post spinoffs projected to be in black in FY 2008

Posted by | Nov 16, 2004 | |

The government projects that the four entities that will take over mail delivery, postal savings, postal insurance and post office network management from Japan Post after its privatization starting in fiscal 2007 will all be in the black in fiscal 2008, government sources said Tuesday. The government’s preparatory office for postal privatization projects that only the postal insurance company will be in the red in fiscal 2007, when the 10-year privatization process begins, they said. The office is scheduled to report its 10-year projections of earnings by the four units from fiscal 2007 at a meeting of experts to be held Wednesday, the sources said.

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EU urges Japan to liberalize postal services

Posted by | Nov 11, 2004 | |

The European Union on Thursday urged Japan to reform its huge postal service that the EU says has an unfair edge over private-sector companies, Jiji Press reported. In high-level financial talks between the two sides, Japan gave assurances that the nation’s postal delivery, banking and insurance businesses, once privatized, would be treated as private firms, the news agency said.
Privatization of the massive post office, which manages some 355 trln yen in savings and insurance funds, is a cherished project of Prime Minister Junichiro Koizumi. The EU also expressed objection to Tokyo’s plans to restrict the sale of prepaid mobile phone cards, which are widely used in the EU but also used by scam artists in Japan.

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