Japan Post may write down 400b yen over Toll acquisition

Tokyo

JAPAN Post Holdings Co is considering writing down as much as 400 billion yen (S$5.1 billion) in the year ended March 31 on goodwill from its acquisition of an Australian logistics unit Toll Holdings, the Nikkei business daily reported on Saturday.

Japan Post's group net profit for the year just ended is estimated at 320 billion yen, and logging a loss of up to 400 billion yen could lead to its first net loss since Japan began privatising the postal system, the daily said.