Nippon Express Co said it will reduce its 34 percent equity stake in its parcel delivery service joint venture with Japan Post Service Co to 14 percent and remove it as an equity-method affiliate. The trucking firm said it will sell 20 percent of its shareholding in JP Express Co to Japan Post Service, the mail arm of government-owned Japan Post Holdings Co, Japan Today reported, citing industry sources. The move comes after Japan Post Service said last month it would delay the planned … [Read more...] about Nippon Express to cut stake in Japan Post JV
Nippon Express
Global cargo cartel fallout lands in Japan
Japan's Fair Trade Commission has notified more than 10 companies that they will be fined about ¥10 billion (US$103.2 million) for operating a cartel on international air cargo services. The FTC believes that the companies, including major distribution and logistics companies Nippon Express Co., Kintetsu World Express Inc. and Yusen Air & Sea Service Co., constrained fair competition by forming a cartel that added fuel surcharges and airport security charges to their air cargo service … [Read more...] about Global cargo cartel fallout lands in Japan