Business / Corporate

Japan's Yamato Holdings Co. enters joint venture in Myanmar

Nna/kyodo

Yamato Holdings Co. plans to provide logistics services in Myanmar through a joint venture with a local partner, aiming to capitalize on growing demand for trade and road transport from foreign companies.

Yamato Global Logistics Myanmar Co., set up at the end of last year in the country’s commercial capital of Yangon together with local logistics service company Aye International Group Co., is scheduled to begin operations in April.

The Singapore-headquartered Yamato Asia Pte. Ltd. holds an 80 percent stake in the new company, capitalized at $500,000 (¥55 million), and the local partner the remainder.

Planned services include trade shipments and cross-border trucking as well as home relocation — associated with an increasing number of foreign companies, including Japanese firms, moving into the emerging country on the back of infrastructure development such as the Thilawa special economic zone.

Thilawa is the country’s first such project, jointly developed by the Japanese and Myanmar private and public sectors.

Yamato conducted marketing research through a branch that opened in Myanmar in 2015 before expanding its operations with the joint venture.