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Business deals

Japan logistics giant Sagawa to buy Chinese peer

Group to leverage Runbow's strengths in Chengdu and Wuhan

By acquiring a peer, SG Holdings aims to tap China's growing shipping demand. 

TOKYO -- Japanese package delivery group SG Holdings, the parent of Sagawa Express, will acquire Shanghai-based peer Shanghai Runbow Logistics and Technology, the company said Friday, aiming to tap China's growing demand for shipping services backed by continuous economic and population growth.

Sagawa Logistics, which manages the group's overseas operations, will acquire a 70% interest in the company by the end of March for an estimated several billion yen. Sagawa will leverage Runbow's shipping network in China to win shipping contracts from apparel and cosmetics companies. 

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