Deals
Japan Post Mulls More Deals After $4.9 Billion Toll Purchase
- Mergers & acquisitions, tieups in cards as part of expansion
- Asia’s logistics business has seen several M&As recently
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Japan Post Holdings Co., which acquired Australia’s Toll Holdings Ltd. last year, will consider more takeovers and tie-ups as part of a plan to expand across Asia, the company’s unit said.
Japan Post needs to strengthen its foothold in the region to serve Japanese corporations in those markets, a strategy that will help the Tokyo-based company become more international, Kunio Yokoyama, the president of unit Japan Post Co., said in a news conference Tuesday. The A$6.5 billion ($4.9 billion) takeover of Toll was the biggest by a Japanese company of an Australian firm.