Japan Post agreed Friday to merge its parcel delivery operations with those of shipping firm Japan Express in its first business tie-up since the start of postal privatisation. Japan Post and Japan Express, Japan's largest transportation service company, said in a statement that they plan to set up a joint venture in October next year to combine the operations.
The two companies have yet to decide on their investment ratio for the venture, which will control a combined 19 percent or the third largest of Japan's parcel-delivery market. They also plan to consider expanding their business tie-up in the future in order to "build a comprehensive and strategic business relationship."