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Japan Post to raise postal rates for 1st time in 23 yrs

23 Dec 2016, 12:09

http://the-japan-news.com/news/article/0003422652

Japan Post Co. said Thursday it will raise the charges for sending so-called second-class mail, including postcards, and postal rates in some other categories, for the first time in 23 years, from June 1 next year.

Rates for normal post cards, excluding New Year’s greetings cards for 2018, will be raised to ¥62, from the current ¥52. Charges for nonstandard-sized postal items including those for “Yu-Mail” delivery services will also face a markup.

The full-fledged rate hike, excluding past hikes in line with consumption tax increases, is aimed at keeping its postal operations in the black.

Japan Post’s postal operations, especially the postcard service, have been struggling with low profitability. Through the price hike, the company will able to secure operating profit in fiscal 2017 against its previous forecast of dipping into the red, company officials said.

The hike will decrease the number of postcards to be sent by some 200 million per year, while increasing annual profit by about ¥30 billion, according to the firm