One of the “big three” Japanese shipowners, NYK has set out a strategy of becoming a more “asset light” organisation in which it sees a strong fit for the public-listed freight forwarding subsidiary Yusen Logistics.
NKY currently owns 59.6% of Yusen Logistics and is offering JPY1,500 per share to minority shareholders that own 40.4% of the company. The Japanese shipowner aims to acquire all the shares in Yusen Logistics, and should the offer close with it having less than two-thirds control of the logistics company the offer will not go ahead.
The share offer opened on 1 November and will close on 21 December 2017.
NYK said it was aiming to move towards an asset light business model with a reduction in owned and long-term chartered vessels, and an increase in short-term chartered ships and its forwarding business.
“NYK Group set logistics business as its core business and will engage in various measures targeted to strengthen its business foundation,” the company said.
Meanwhile NYK reported that it was back in the black for the first half of FY2017 with a JPY6.29bn profit, compared to a JPY231.81bn loss in the same period of FY2016.
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