Rhenus and Sankyo set up joint venture in Japan
The Rhenus group and Sankyo Corporation registered the joint venture named Rhenus Sankyo Logistics K.K. on 23 June. Sankyo is part of the Fujiki group, a network of more than 20 companies in Japan and worldwide.
Rhenus Asia and the American Sankyo subsidiary Clearfreight have been working together for many years. The excellent level of cooperation 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 Japan.
“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,” says Tobias Bartz, a Member of the Rhenus Board, giving the reasons for the cooperation arrangement.
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.