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Business deals

Nippon Express Holdings to buy Austria's Cargo-Partner for $743m

Japanese shipper hopes to become more internationally competitive with buyout

Nippon Express hopes to strengthen its business in Europe and the U.S. with its planned purchase of Austrian logistics company Cargo-Partner.   © Reuters

TOKYO -- Nippon Express Holdings, the holding company of Nippon Express, will purchase a majority stake in Austrian logistics company Cargo-Partner for over 100 billion yen ($743 million), Nikkei has learned.

Japan's domestic market is not expected to grow in the medium to long term due to a shrinking population and other factors. Nippon Express hopes the acquisition of the Cargo-Partner, which is strong in Europe, the U.S., and Asia, will help it become more competitive in international logistics.

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