Germany-headquartered logistics services provider, Rhenus Group has launched a Japanese joint venture with Sankyo Corporation, named Rhenus Sankyo Logistics K.K.. The joint venture will offer international freight forwarding services, as well as domestic warehousing and distribution services. Rhenus will hold two thirds of the shares in the new entity.
The Asia division of Rhenus and Sankyo’s Americas' subsidiary Clearfreight have been working together for a number of years.
Sankyo is majority-owned by Fujiki Group, although 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, board member of the Rhenus Group, said: “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.”
Only two weeks ago, Rhenus had acquired the General Cargo business of Sweden’s Loomis Group.
The services offered by Rhenus and the General Cargo area of Loomis complement each other ideally, state both firms. The service portfolio of the acquired General Cargo units will be fully maintained and tentatively expanded in certain areas in the medium-term, announced Rhenus.
Last year, the 26,000 staff working for the 1912 founded Rhenus Group turned over €4.6 billion.
Nol van Fenema