Nippon Yusen Kaisha (NYK) has agreed to form a joint holding company with Mitsubishi Logistics Corporation to integrate the management of its four terminal operation companies in Japan.
The Japanese logistics company is also awaiting administrative approval to merge two of those four businesses, Uni-X Corporation and Nippon Container Terminals.
According to a company notice, the purpose of the management integration is to “consolidate quality improvement efforts and enhance long-term service stability” for its port and harbour transportation business.
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The holding company, in which NYK will hold an interest of 51%, is expected to be established by November 2018.
The current schedule also plans for the merger of Uni-X and Nippon Container Terminals to be completed in January 2019.
The other two terminal operating companies NYK will integrate, which are currently part of NYK Group, are Asahi Unyu Kaisha and Yusen Koun.