Strong growth for Japan Post’s parcels and logistics services, stemming from the pandemic, was more than offset by declines in mail, retail and financial services in 2020.
As a result, total revenue dropped 2% in the year. Driven by increased e-commerce demand, the post’s Yu-Pack parcel volumes grew 12% year on year. However, domestic mail volume decline accelerated, with volumes dropping 7% from 2019. As a result, postal service revenue fell 3% in the year. Through its new strategy running to 2025, the post aims to use partnerships, acquisitions and service diversification to drive profitable growth. For more details download the latest IPC Carrier Intelligence Report for Japan Post.
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