NEC Corporation and Nippon Express have completed the deal to form a strategic business alliance to strengthen their global logistics business. As part of this alliance, NEC has transferred a portion of its shares in NEC Logistics to Nippon Express.
The two companies reached agreement on the deal in March 2013. Following the transfer of shares, NECL became a joint venture between NEC and Nippon Express and NECL’s company name was changed to Nittsu NEC Logistics.
The companies said: “Nittsu NEC Logistics’ logistics network is reinforced through its business relationship with Nippon Express, enabling NEC to position Nittsu NEC Logistics as a logistics partner for expanding the base of the NEC Group’s global supply chain.
“NEC is a leading provider of solutions in the information and communication technology (ICT) field, Nippon Express boasts a sophisticated global logistics network and Nittsu NEC Logistics possesses advanced know-how of logistics in the ICT field. Together, the three companies aim to unify their broad range of strengths to promote the growth of Nittsu NEC Logistics into one of the ICT world’s leading logistics companies.”
* In May, Nippon Express reached a similar agreement to take a majority shareholding in Panasonic Logistics. This deal is also expected to be completed this month and following that the company will change its name to Nittsu-Panasonic Logistics Co Ltd.