Nippon Express Co. and Mitsubishi Corp. plan to integrate their distribution networks in China to better cater to Japanese companies operating in the Chinese market, officials from both companies said Wednesday.
Nippon Express, Japan's largest cargo transportation company, and Mitsubishi, one of the nation's biggest trading houses, will set up a joint holding company in Japan by June to establish a distribution network across China, they said.
The holding company will be capitalized at about 1.2 billion yen. Nippon Express will own 51 percent and Mitsubishi the remainder, they said.