Japan Post to Raise Mail Rates for First Time in 23 Years (News)
Tokyo, May 31 (Jiji Press)—Japan Post Co., a unit of Japan Post Holdings Co., will raise mail rates on Thursday, the first full-fledged hikes since January 1994, excluding markups for consumption tax increases.
The rate for standard postcards will be increased by ¥10 to ¥62. Rates will also go up for other services, such as envelopes and postal items for "Yu-Mail" deliveries.
Meanwhile, Japan Post will keep the rate for New Year's greeting cards unchanged at ¥52 for the time being.
The firm decided to carry out the first full rate hike in 23 years, finding it difficult to keep postal services profitable due to a decline in the number of postcard senders amid the spread of email and a rise in labor costs.
In fiscal 2001, 26.3 billion items, excluding parcels, were sent by mail. But the figure fell to 17.7 billion in fiscal 2016, ending in March 2017.[Copyright The Jiji Press, Ltd.]