Japanese NYK announced a schedule update regarding its plans to form a joint holding company to integrate the management of the four NYK Group terminal operation companies in Japan, through a new joint holding company that will be established by NYK and Mitsubishi Logistics Corporation (MLC), as announced in August 2018.
Namely, NYK and MLC agreed to form a joint holding company to integrate the management of the four NYK Group terminal operation companies in Japan, as well as merge UNI-X Corporation (UNI-X) and Nippon Container Terminals Co., Ltd. (NCT), subject to administrative approval by the authorities concerned and necessary proceedings. The joint holding company will contain an investment ratio of NYK 51% and MLC 49%.
However, necessary proceedings have delayed integration, so NYK and MLC now announced an update to the schedule, in addition to an overview of the new holding company and joint company of UNI-X Corporation (UNI-X) and Nippon Container Terminals Co. Ltd. (NCT).
The new Integration Dates scheduled are 17 2018 for establishment of the holding company and April 1st 2019 for the merge UNI-X and NCT
According to NYK, the purpose of the management integration is to consolidate quality improvement efforts and enhance long term service stability for port and harbor transportation business of the company.
