Japan Post to raise postage rates from Oct. 1 amid fewer deliveries

Japan Post Co. on Thursday said it will raise the price of a standard-size letter stamp to 110 yen ($0.7) from 84 yen starting Oct. 1, among other postage rate hikes, to improve profitability amid declining letter usage replaced by email and messaging apps.It will mark Japan's first postal rate hike for letters in 30 years, excluding adjustments related to consumption tax increases.While mail deliveries have decreased significantly since their peak in 2001, Japan Post, an arm of Japan Post Holdings Co., needs to secure funds to cover rising labor, fuel and other costs, it said in a press re…READ FULL ARTICLE