NYK merging Japanese logistics units
NYK will consolidate its two Japanese international forwarding and third-party logistics units into one brand, NYK Logistics Japan Co. Ltd., effective Oct. 1.
The move will see the end of JIT Corp. brand, established in 1983 as a non-vessel-operating common carrier. JIT attained sales of about Yen 12.5 billion ($107 million) in the 2005 fiscal year. NYK Logistics Japan was founded in 2004 to provide 3PL services by linking the services offered by NYK Group logistics companies around the world.
The combined company will have estimated revenue of Yen 16.5 billion ($142 million) in the 2007 fiscal year, and will employ 202 people.
“This merger will allow the two companies to unite NYK Logistics Japan’s advanced know-how of supply-chain solutions with the long-term customer relationships established by JIT, thus building on years of strong sales performances and giving the united company the capacity to offer competitive and more customer-centric services,” NYK said in a statement.