Nippon Express Holdings, the holding company of Nippon Express, will acquire a majority stake in Austrian logistics company Cargo-Partner for over 100 billion yen ($743 million), Nikkei has learned.
Due to the declining population and other factors, the Japanese domestic market is not expected to grow in the medium to long term. Nippon Express hopes that the takeover of the cargo partner, which is strong in Europe, the USA and Asia, will increase its competitiveness in international logistics.
An agreement should be reached by the end of Friday. If the deal goes through, it would be Nippon Express Holdings’ largest acquisition to date.
Cargo-Partner operates a forwarding company: It buys freight space from transport companies such as airlines and shipping companies and offers this space to shippers. The company operates air, sea and land transportation and warehousing businesses in 40 countries in Europe, North America and Asia. The annual turnover is more than 300 billion yen.