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Business deals

Nippon Express to buy European shipper Tramo for international edge

Japanese company seeks expertise in furniture logistics to serve upscale clients

Nippon Express will tap Tramo's luxury furniture distribution networks to serve high-end apparel companies as they expand their businesses. (Photo by Kento Igami)

TOKYO -- Nippon Express will acquire the Tramo group, a European shipper specializing in luxury furniture, as the Japanese logistics company looks to broaden its reach in international markets.

The deal announced Monday by holding company Nippon Express Holdings is estimated to be worth just over 10 billion yen ($68 million). By buying Tramo, which operates in Europe and North America, Nippon Express aims to boost its competitiveness abroad as a shrinking population and a shift toward offshore manufacturing cloud the market outlook at home.

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