Today I have approved the foreign investment proposal by Japan Post Co., Ltd. to acquire Toll Holdings Limited.
Toll is Australia's largest supply chain company employing around 40,000 people, with operations in road, rail, sea, air and warehousing in 55 countries.
Japan Post is a public corporation that provides postal services in Japan.
The Government welcomes foreign investment where it is not contrary to our national interest. Foreign investment has helped build Australia’s economy and will continue to enhance the wellbeing of Australians by supporting economic growth and prosperity.