Saturday, June 22, 2024
Rhenus and Sankyo sign joint venture

Rhenus and Sankyo sign joint venture

The Rhenus Group and Sankyo Corporation have set up a joint venture known as Rhenus Sankyo Logistics K.K.

Sankyo is part of the Fujiki Group, a network of firms with more than 20 companies in Japan and worldwide. Rhenus Asia and the American Sankyo subsidiary Clearfreight have already been working together for many years.

The level of co-operation 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.

Rhenus board members, Tobias Bartz says: “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.”

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.

Sankyo Corporation president and executive director, Kozo Fujiki adds: “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.”

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James Graham

James Graham is an award-winning transport media journalist with a long background in the commercial freight sector, including commercial aviation and the aviation supply chain. He was the initial Air Cargo Week journalist and retuned later for a stint as editor. He continues his association as editor of the monthly supplements. He has reported for the newspaper from global locations as well as the UK.

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