Kuribayashi Steamship Co., Ltd. entered into a share transfer agreement to acquire Kitanihon Kaiun K.K. from Nippon Express Co., Ltd. and others for ¥2 billion.
July 16, 2020
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Kuribayashi Steamship Co., Ltd. (TSE:9171) entered into a share transfer agreement to acquire Kitanihon Kaiun K.K. from Nippon Express Co., Ltd. (TSE:9062) and others for ¥2 billion on July 17, 2020. As per terms, Kuribayashi Steamship will acquire 770,290 shares of from Nippon Express Co., Ltd. and others. With this share acquisition, Kitanihon Kaiun K.K. will become a consolidated subsidiary of Kuribayashi Steamship Co., Ltd. For the year ended March 31, 2020, Kitanihon Kaiun K.K. reported total assets of ¥2.49 billion, net assets of ¥2.03 billion, total sales of ¥2.32 billion, operating profit of ¥16.5 million and net income of ¥14.37 million.
The transaction is expected to close on September 1, 2020.
Nippon Express Holdings Inc. specializes in freight transportation and logistics services. The group provides transport by land, air, rail and sea of products, materials, components, equipment, etc. on behalf of companies and organizations. At the same time, Nippon Express Holdings Inc. offers warehousing and supply chain management solutions. The group's activities are essentially organized around 3 areas:
- logistics services;
- cash and precious goods transportation services; and
- heavy equipment transportation services.
Net sales are distributed geographically as follows: Japan (59.2%), Asia and Oceania (18.3%), America (14.6%) and Europe (7.9%).
Kuribayashi Steamship Co., Ltd. entered into a share transfer agreement to acquire Kitanihon Kaiun K.K. from Nippon Express Co., Ltd. and others for ¥2 billion.
NIPPON EXPRESS HOLDINGS INC. 
