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Japan Post Announces Extraordinary Loss of 85 Billion Yen Due to Significant Drop in Rakuten’s Stock Price | NHK

Japan Post Announces Extraordinary Loss of 85 Billion Yen Due to Significant Drop in Rakuten’s Stock Price | NHK

Japan Post introduced that it’ll report a unprecedented lack of about 85 billion yen in response to the sharp decline within the stock worth of the Rakuten Group, which has invested 150 billion yen and shaped a capital tie-up.

The authorities additionally owns shares of Japan Post Holdings, and because it handles postal providers, it’s probably that the best or incorrect of administration choices at the moment might be questioned.

Japan Post entered right into a capital and enterprise alliance with Rakuten Group in March 2021, investing roughly 150 billion yen.

In addition to collectively working logistics bases, the 2 corporations have been working collectively to just accept purposes for Rakuten cellphones at put up workplaces nationwide.

As for Japan Post, because the dealing with of mail reminiscent of letters and postcards is lowering, the purpose was to extend the gross sales of the logistics enterprise by growing the dealing with of packages dealt with by Rakuten’s on-line buying.

The two corporations collectively established “JP Rakuten Logistics”, which operates 10 logistics bases nationwide, together with Chiba and Osaka, however the enterprise continues to be within the pink.

Hiroya Masuda, President of Japan Post Holdings, stated at a press convention held on June 27, “We are starting to support Yu-Pack. We want to bring it into the black as soon as possible.”

On the opposite hand, Rakuten’s goal was to make use of the funds obtained from Japan Post’s funding for capital funding, as the upkeep of base stations within the cell phone enterprise prices some huge cash.

In addition, there have been 285 cell phone utility reception counters at put up workplaces nationwide at one time, however attributable to the truth that the specified impact was not obtained, there are at present 81 counters. shrinking in place.

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