TNT said that it is still in talks with Japan Post over cooperation but confirmed that the twosides have not reached agreement over their planned international express joint venture.
In a statement issued in response to Japanese press reports, TNT said that: “At this stage,parties have not been able to reach agreement on the joint venture; however, TNT continues toexplore opportunities for cooperation with Japan Post, including alternative JV structures.
“TNT remains committed to the discussions with JP but will – as always – also be looking atalternative options in Japan to continue to build on the momentum we have managed to create in allother parts of Asia.”
TNT noted that the planned joint venture would be an addition to its acquisition of roadtransport group Hoau in China and the launch of its South East Asia road network as part of itsoverall strategy to build a leading position in the Asian Express market.
Japanese newspapers reported on June 27 that Japan Post had decided to terminate its plannedstrategic alliance with TNT because the two sides had been unable to resolve differences about thejoint venture’s strategy and their respective financial involvement.
TNT and Japan Post announced last October that they would create a joint venture to provideinternational express services to and from Japan, combining the domestic strength of the nationalpostal group and TNT’s worldwide network.
Faced with forthcoming restructuring, privatisation and further mail market liberalisation,Japan Post has embarked on an international growth strategy over the last year. This was basedaround the TNT deal in the express sector and a joint airline with All Nippon Airways, NipponExpress and Mitsui OSK Lines to serve the air cargo sector. The carrier is due to launch flights inAugust.
