The Japanese government has moved to bolster its ports against increasing regional competition.
On Friday the Shinzo Abe-led government bought a 50% stake in the joint port corporation running Yokohama and Kawasaki for a nominal Y500m ($4.4m).
Japan has been consolidating port operations for much of the past decade as the nation’s terminals have struggled with overcapacity and fading regional importance. It has been more than a decade since a Japanese container port featured among the world’s top 20 list.
Other shareholders in Yokohama and Kawasaki ports are the two local governments and Sumitomo Mitsui Bank.
