TOKYO -- Japanese shipping company Seino Holdings has decided to buy a 70% stake in Mitsubishi Electric's logistics unit for 60 billion yen ($380 million) as a driver shortage exacerbated by new overtime curbs spurs a realignment in the trucking industry.
Business deals
Japan's Mitsubishi Electric set to sell trucking arm to peer Seino
Driver shortage spurs consolidation in logistics industry
Seino looks to buy Mitsubishi Electric Logistics to gain more drivers as overtime curbs squeeze trucking capacity. (Seino)
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