TOKYO, Dec 18: Japan plans to raise its stamp price for standard-size letters starting as early as next fall, the government said on Monday.
The postage price is expected to rise to 110 yen (0.77 U.S. dollar) from 84 yen, according to the Ministry of Internal Affairs and Communications.
It would be the first postage price hike in 30 years, excluding increases in line with consumption tax hikes.
Meanwhile, the prices for Japan Post’s standard postcards are expected to rise from 63 yen to 85 yen, said the ministry in its announcement soliciting opinions from the public.
The plan was proposed after Japan Post reported that its mail services logged an operating loss of 21.1 billion yen in fiscal 2022, the first red ink since the country’s postal services were privatized in 2007.
The company’s loss is expected to expand to 343.9 billion yen in fiscal 2028 without a rise in postage prices amid increased labor and fuel costs, according to local media reports citing ministry officials. (UNI)
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