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MarketScreener Homepage  >  Equities  >  Tokyo  >  Japan Post Holdings Co Ltd    6178   JP3752900005

JAPAN POST HOLDINGS CO LTD

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Japan Post : to end Saturday standard mail delivery next year

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08/06/2019 | 09:53am EDT

A government panel decided Tuesday to end Saturday delivery for standard mail to deal with a labor shortage at Japan Post Co. and a drop in demand due to increased use of the internet.

The Ministry of Internal Affairs and Communications said it accepted the proposal from the panel and will seek a law amendment at an extraordinary Diet session this fall. Delivery on Saturday could be terminated possibly next year and it will be available only on weekdays.

Japan Post, a unit of Japan Post Holdings Co., has been calling for a review to trim standard mail service hours to five days a week from the current six days to address the workforce shortage. The government holds a more than 50 percent stake in Japan Post Holdings.

Saturday delivery for parcels is to be maintained, along with that for express and registered mail. The postal service unit is considering a 10 percent cut in charges for express mail in return for discontinuing Saturday mail service.

The panel also proposed extending the standard delivery time limit of three days to four days to maintain stable services.

==Kyodo

© Kyodo News International, Inc., source Newswire

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Financials (JPY)
Sales 2020 12 554 B
EBIT 2020 752 B
Net income 2020 458 B
Finance 2020 52 080 B
Yield 2020 5,05%
P/E ratio 2020 9,48x
P/E ratio 2021 9,07x
EV / Sales2020 -3,82x
EV / Sales2021 -3,84x
Capitalization 4 160 B
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Number of Analysts 9
Average target price 1 363,33  JPY
Last Close Price 1 029,00  JPY
Spread / Highest target 55,5%
Spread / Average Target 32,5%
Spread / Lowest Target 16,6%
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Managers
NameTitle
Masatsugu Nagato President & Director
Hidetake Kikuhara Executive Officer
Seiji Yukino Executive Officer & Senior Manager-Group IT
Yasuo Suzuki Director & Representative SEVP
Miwako Noma Independent Outside Director
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