NYK, MLC to Form Holding Company in December

zoomIllustration; Image Courtesy: Pixabay under CC 2.0 license

Nippon Yusen Kaisha (NYK) and Mitsubishi Logistics Corporation (MLC) intend to establish a joint holding company in December 2018 and merge port and transportation business companies in April 2019.

Earlier this year, the duo unveiled plans to integrate management of the four NYK Group terminal operation companies in Japan through a new joint holding company and merge UNI-X Corporation (UNI-X) and Nippon Container Terminals (NCT).

NYK Group companies for the management integration include UNI-X, NCT, Asahi Unyu Kaisha and Yusen Koun.

To be located in Tokyo, the new holding company will be named MY Terminals Holdings Limited, owned 51% by NYK and 49% by MLC.

What is more, the joint company of UNI-X and NCT will have a trade name UNI-X NCT Corporation. The company, owned by MY Terminals Holdings Limited, will also be based in Tokyo.

NYK explained in August that the purpose of management integration is to consolidate quality improvement efforts and enhance long-term service stability for port and harbor transportation business.