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Japan Post to acquire Toll Holdings

Editorial

Tokyo based Japan Post Co announces that it has commenced procedures to acquire 100% of the issued and outstanding shares of Toll Holdings Limited headquartered in Melbourne, Australia. Toll is a leading Australian logistics company listed on the Australian Securities Exchange.

Under the Scheme Implementation Deed, Japan Post would acquire all of the shares of the Australian-listed Toll through a Scheme of Arrangement (SOA) based on the Australian Corporations Act. The SOA is subject to a Toll shareholders' meeting resolution and court approval in Australia.

Japan Post seeks to reinforce its domestic operations with this acquisition while focusing on the fast-expanding Asian market as part of efforts to grow as a comprehensive international logistics company.

Having launched its international parcel delivery services after concluding a capital and business alliance with France's GeoPost and Hong Kong's Lenton Group in October 2014, Japan Post decided to acquire shares in Toll to establish a solid position in the Asian market and cultivate Japan Post's global business.

Toll has a strong presence in the Asia-Pacific region, which has excellent logistics growth potential, and a portfolio that is balanced by business and region. Toll engages in forwarding and third-party (contract) logistics operations overseas and has significant experience in multinational corporate management.

Positioning Toll as a platform for cultivating global business, Japan Post will leverage the Australian company's expertise to expand their global logistics operations and revenues.

A shrinking postal market in Japan, the declining population, and growing reliance on the Internet were factors that prompted Japan Post to plan an overseas expansion to bolster earnings.

The Japan Post Group will materialise its medium-term management plan by continuing to provide universal postal, banking, insurance, and other services through its post office network while endeavouring as a leading international logistics player to cultivate a unique business model that accommodates diverse customer needs.

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