Yamato Holdings to pay Y19 billion in unpaid overtime
Japan Times -- Apr 20
Transportation service group Yamato Holdings Co. said Tuesday it will pay about 47,000 employees ¥19 billion in unpaid overtime for the past two years.

The parent of leading parcel delivery company Yamato Transport Co. admitted that many of its drivers had to work long hours, including overtime without pay, a chronic situation due to a surge in parcel delivery demand in line with rapid growth in the e-commerce industry.

Citing the cost of the overtime payments, Yamato Holdings sharply revised down its consolidated earnings estimates for the latest business year ending in March.

Operating profit is now estimated at ¥34 billion, compared with ¥58 billion previously expected, and net profit will be a projected ¥19 billion, down from ¥34 billion.

Yamato Holdings Senior Managing Executive Officer Kenichi Shibasaki said the company became unable to properly manage work hours of its drivers in autumn last year, as online shopping demand expanded faster than expected.

ヤマト運輸を傘下に持つヤマトホールディングス(HD)は18日、グループの約4万7千人に残業代が適切に支払われていなかったと発表した。インターネット通信販売の普及に伴う宅配便の急増により、サービス残業が横行していた。2年分の未払い残業代約190億円を一時金として支払うため、2017年3月期の業績予想を下方修正した。
News sources: Japan Times, Kyodo
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