Tokyo: NYK has announced that it is to consolidate its two Japan based logistics subsidiaries, JIT Corporation and NYK Logistics Japan as of October 1, into a new company with the sole name NYK Logistics Japan.
In a statement to the press, the company said, "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."
The new company, which will boast a capital of 490m yen ($4.1m), is expected to bring in a revenue of 16.5bn yen by March 2008. [14/03/07]
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