Rhenus has launched a Japanese joint venture with Sankyo Corporation, named Rhenus Sankyo Logistics K.K. Two thirds of the new entity’s shares are owned by Rhenus.
The JV will primarily offer international freight forwarding services, though it will also offer domestic warehousing and distribution. Prior to this tie-up, Rhenus Asia and Sankyo’s Americas subsidiary Clearfreight have worked together for a number of years.
Sankyo is majority-owned by Fujiki Group, though its shareholders also include NYK, Mitsubishi Logistics and Mitsui O.S.K. Lines. Fujiki Group primarily offers port services, multimodal distribution services and transport operations. It operates a network of over 20 companies in Japan and worldwide.
Tobias Bartz, a Member of Rhenus’ Board commented, “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.”