Three Japanese companies form JV for Asia express services
Tokyo-based logistics companies Nippon Express and Kintetsu World Express and airline All Nippon Airways on Wednesday signed an agreement to establish a new joint venture company to provide business-to-business international express delivery services in Asia.
The new company will start operations on April 1, the companies said in a statement.
ANA will take a 34 percent share in the joint venture company, which has yet to be named, with Nippon Express and Kintetsu World Express both holding 28 percent shares. The final 10 percent will be taken by other forwarding companies.
No other financial details were released.