Japanese shipping major Nippon Yusen Kaisha (NYK) has announced that it has agreed to form a joint holding company with Mitsubishi Logistics Corporation (MLC) to integrate management of four NYK terminal operating companies in Japan.
NYK and MLC will hold 51% and 49% respectively in the joint venture, which is expected to be established in November.
Under the plan, the joint venture will integrate the management of UNI-X, NCT, Asahi Unyu Kaisha and Yusen Koun, which operate port and harbour transportation businesses across Japan.
NYK is part of the Mitsubishi keiretsu, a Japanese word that means a group of businesses who are closely linked via shareholdings.
