JAPANESE PARCEL SERVICES LOGGED 1ST DROP IN DELIVERIES IN FY08

Mon. July 06, 2009; Posted: 01:29 AM

TOKYO, Jul 06, 2009 (AsiaPulse via COMTEX) -- YATRF | Quote | Chart | News | PowerRating -- A total 3.21 billion packages were sent via door-to-door delivery services in fiscal 2008, 0.6 per cent less than a year earlier and the first decline since such records began being tracked in fiscal 1984, according to data released Friday by the Japanese Transport Ministry.

Leading parcel delivery firm Yamato Transport Co.'s Takkyubin service delivered 0.3 per cent fewer packages at 1.23 billion units, while Sagawa Express Co's Hikyaku offering registered a 1.1 per cent uptick to 1.06 billion parcels. At Nippon Express Co. (TSE:9062), the Pelican Express service handled 327.86 million packages, down 2.5 per cent. Smaller package delivery firms suffered bigger losses than their major rivals.

Home-delivery services kicked off in the 1970s, and since the bursting of the bubble economy the amount of packages sent door-to-door has grown at an annual tick of around 5 per cent. Until now, growth had been fueled by new services and the popularity of e-commerce, with deliveries ballooning more than eightfold from the 385 million units logged when statistics were first taken.

The ministry blames the slide on reduced shipments from businesses amid the global economic downturn.

"Even though the industry is still benefiting from home deliveries, the economic crisis did tremendous damage last fiscal year," explains Hajime Hitotsuyanagi, analyst at Daiwa Institute of Research Ltd.

(Nikkei) lm

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