NYK moves to acquire remaining stake in Yusen Logistics

NYK moves to acquire remaining stake in Yusen Logistics

Japanese shipping firm Nippon Yusen Kaisha (NYK) has announced an offer to acquire the remaining 40.4% equity stakes of its freight forwarding subsidiary Yusen Logistics for JPY25.6bn ($225m).

NYK currently holds 59.6% equity shares in Yusen Logistics.

NYK said the move was part of its strategy to expand beyond its traditional shipping activity and exploit the group’s technological capabilities.

“NYK Group set logistics business as its core business and will engage in various measures targeted to strengthen its business foundation,” NYK said in a release.

The transaction is expected to be completed by late March 2018.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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