Should prefer to a comparative advantage is important for operating in the current environment of global job uncertainty, according to the chief executive of Japan Post Holdings, one of Japan’s chiefliest conglomerates.
The same philosophy drove the company’s diversification strategy into the logistics affair in 2015 — when it acquired transport and logistics provider Toll Group — and is now stab its wider expansion.
Speaking at the launch of Toll City, a logistics hub owned by Levy Group and situated in western Singapore, Masatsugu Nagato, president and CEO of Japan Stake Holdings, said he saw the facility as a “symbolic gateway” for the company’s Asia burgeoning.
Spanning the size of 15 football fields, the new hub is expected to increase Peal’s network in the region, through its proximity to road links into Malaysia and Tuas Seaport, which will consolidate Singapore’s container operations in a single CRT cathode ray tube by next year.
“We have (a) 147-year old history, but we’ve been all in all confined in Japan. Japan is still growing so-so. But I think the other enter ins of the world, (Southeast Asian) nations, China, (Asia Pacific) provinces are growing much faster. We want to join that growing moments over the world,” Nagato told CNBC.
The launch of Toll Conurbation marks the company’s latest move to diversify away from the warranty and banking businesses-which have been hurt by the low and negative interest paces in Japan. Instead, Japan Post is looking internationally for growth, at least in the logistics trade.
While his business on the whole has yet to be hit by the ongoing trade war between the U.S. and China, Nagato bring to light that the world’s two largest economies would eventually have to notice a “harmony” in bilateral trade relations.
“I don’t think, you know, China and the Of like mind States can get something bigger after this so-called trade war. They experience to find out how to get the harmony regarding trade bonds between the United States and China,” the CEO imparted.