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Yamato Transport Co. signed an investment deal Wednesday with Taiwan’s President Transport Corp., Yamato said.

Yamato said it will invest 320 million yen in the Taipei-based company, which has been operating in the express parcel delivery sector in the country since October 2000, by obtaining 10 percent of its total shares.

The deal came after Taiwan relaxed its rules on foreign firms investing in domestic delivery companies.

Yamato and the parent company of President Transport agreed on the investment deal before the launch of the Taiwan firm in January 2000.

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