Rhenus and Sankyo set up joint venture in Japan
The excellent level of cooperation is now set to be expanded in the joint venture, where Rhenus holds two thirds of the shares. The joint venture will mainly handle imports and exports to and from Japan, but also provide domestic services like distribution and warehousing in the country. In addition to their individual expertise, Rhenus and Sankyo are also introducing existing Japanese business to the joint firm.
"Japan is the fourth largest importer and exporter in the world. Because of its specific business culture, however, it’s difficult for foreign companies to establish a foothold in the market; so an experienced local partner is an enormous support. The Sankyo Corporation is a renowned company in Japan and will enable us to expand our Asia-Pacific network," says Tobias Bartz, a Member of the Rhenus Board, giving the reasons for the cooperation arrangement.
The companies within the Fujiki Group mainly specialise in port services, multimodal distribution services and transport operations. In addition to the largest shareholder, Fujiki, other companies like NYK, Mitsubishi Logistics and Mitsui O.S.K. Lines have holdings in Sankyo.
"The Rhenus Group persuaded us, primarily because of its corporate philosophy and its logistics expertise. Our successful cooperation in the past has been based on professionalism, quality and mutual trust. We’d now like to go one step further with the joint establishment of this company," says Kozo Fujiki, President and Executive Director of the Sankyo Corporation.
Rhenus SE & Co. KG
The Rhenus Group is a logistics services provider with global business operations and annual turnover of EUR 4.6 billion. Rhenus has business locations at more than 500 locations worldwide and employs more than 26,000 people. The Rhenus business areas - Contract Logistics, Freight Logistics, Port Logistics and Public Transport - manage complex supply chains and provide a wealth of innovative value-added services.
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