"The managers weren't allowed to know what was going on. Fundamental, Stock Ideas, Multibaggers & Insights, Stock & Index F&O Trading Calls & Market Analysis, Positional and Intraday Trading Calls basis Noiseless Chart, Commodity Trading Calls & Market Analysis, Currency Derivatives Trading Calls & Insights, Options Trading Advice and Market Analysis, Model portfolios, Investment Ideas, Guru Screens and Much More, Proprietary system driven Rule Based Trading calls, Curated markets data, exclusive trading recommendations, Independent equity analysis & actionable investment ideas, Details stock report and investment recommendation. Citing multiple undisclosed sources, the Japanese business magazine said the Tokyo-headquartered post and courier company is in the process of appointing advisors to the planned transaction. TOKYO (Reuters) - Japan Post Holdings (NYSE: POST) Co Ltd (T: 6178) has decided to sell its Australian logistics arm Toll Holdings Ltd, a media report said on Tuesday.. All held leadership positions or worked with the company's top executives. Get all latest & breaking news on Toll Holdings. Toll was riven by internal conflict and weak governance controls, was in financial decline and suffered from corruption. The contractor was cancelled on the spot and the police informed. The profit downgrade must have helped focus Kruger's mind. He wanted big, slow companies like Japan Post to grow through overseas expansion. He was a leading hand in one of the states. In other businesses you wouldn't dream of seeing that activity. In 2015, Japan Post acquired Australiaâs transport logistics firm Toll for A$6.5 billion ($4.64 billion), making an ambitious bet to diversify overseas. Executives from one of the world's largest companies had arrived in Melbourne overnight and agreed to buy the Australian company for $6.5 billion cash, 49 per cent above its market capitalisation. Toll chairman Ray Horsburgh, Japan Post chief executive Toru Takahashi and Toll managing director Brian Kruger on February 18, 2015, the day Toll was sold. Until it was sold, Toll was an Australian success story. Sometimes the same pallets that were stolen were leased back. In the first of a three-part series, Aaron Patrick reports on corruption in logistics group Toll, including bikie gangs that used it to transport drugs. Toll was, almost by accident, a component of Prime Minister Shinzo Abe's plan to restart Japan's sclerotic economy. Toll had always been good at expansion, and was run in a time zone that wouldn't require Japanese public servants to work overnight. One of IPEC's major transport contractors was the brother of a floor manager in an IPEC distribution centre. It took me seven months to work out what was happening. The operations in France couldn't make money because of rigid labour laws. Toll's corruption problems may have been exacerbated by a recruitment program called Second Step. Japan Post is planning to divest Toll Holdings, the Australian provider of transportation and logistics services, according to Diamond. When a truck arrived at a Toll warehouse with pallets, employees would sometimes pay the driver to steal the pallets, an internal investigation found. Two Victorians who tested positive in NSW are linked to the restaurant; Scott Morrison says Australia will not 'rush to failure' on the coronavirus vaccine; long delays expected on NSW-Victorian border and motorists are being told to leave now. Built through some 120 acquisitions over 28 years – many of them struggling independent outfits – it was a complex, unruly business that operated in more than 50 countries, operated 567 computer networks and, in Australia, paid wages through 49 payroll systems. It was cancelled in 2018. 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