Japan Post Completes Acquisition of Australia's Toll

Tokyo, May 28 (Jiji Press)--Japan Post Co. said Thursday that it has completed the procedures to acquire major Australian distribution group Toll Holdings Ltd. Japan Post, the mail service arm of Japan Post Holdings Co., spent 6,486 million Australian dollars on the buyout. In the business year to June 2014, Toll logged group operating revenue of 8,811 million dollars and a net profit of 293 million dollars. Japan Post said that it aims to maximize Toll's corporate value through appropriate corporate governance and under the Japan Post Holdings group's common strategy. Japan Post in February announced an agreement with Toll on the deal. END