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Business

Japan Post faces revamp overseas as Australian unit Toll slumps

Group seeks new path for logistics, eyes postal consulting in Southeast Asia

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A woman walks past an advertisement board at Japan Post's Tokyo headquarters. The ad touts the company's local presence throughout Japan.   © Reuters

TOKYO -- Japan Post looks to redraw its overseas strategy after stumbling on plans to strengthen corporate logistics services via Australian unit Toll Holdings.

Low resource prices have taken a toll on Australia's economy, eroding demand for logistics services. Toll's operating profit tumbled by more than two-thirds to 83 million Australian dollars ($62.8 million) for the April-December period, with operating revenue shrinking 7% to A$5.9 billion.

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