NYK merges two Japanese agency subsidiaries
Tokyo-based shipping and logistics group Nippon Yusen Kaisha will merge two of its Japanese shipping agency subsidiaries on Oct. 1 to lower costs and improve service quality.
Yusen Agency Ltd., established in 1987, and Tosen Agencies Co., Ltd., set up in 1969, will be combined into a single company to be named United Maritime Co., Ltd. The merged company “will serve as the core of the NYK group’s shipping agency business in the Keihin (Tokyo-Yokohama) and Hanshin (Osaka-Kobe) regions,” NYK said in a statement.
United Maritime will have a capital of 40 million yen (about $400,000) and 100 employees.