Nippon Yusen and Yusen Air merge
25 / 02 / 2010
NIPPON Yusen Kabushiki Kaisha (NYK) and Yusen Air & Sea Service (YAS), have agreed to integrate their logistics divisions.
Under the agreement, YAS will change its trading name to Yusen Logistics Kabushiki Kaisha (Yusen Logistics). Meanwhile, in Japan, YK Logistics will be integrated into YAS in October. However, YAS will remain a subsidiary of NYK.
The companies will begin to merge their international operations between April 2011 and March 2012, mainly by establishing joint ventures, which the new company will make its subsidiaries.
YAS’ current president, Shunichi Yano (right), and Masahiko Fukatsu, current president of NYK Logistics, will both head the merged company.
In a statement, the companies said that the move aimed “to boost the value of the group’s logistics business by optimisation and efficiency improvement using maximised group synergy”.