May 20, 2015

Nankai Express launches Vietnamese subsidiary

Nankai Express Co., Ltd. on May 1 kicked off the operation of the local subsidiary it established in Ho Chi Minh, Vietnam. The new company is a joint venture with AGL, which is a trading house-affiliated NVOCC, and a local logistics firm. In addition to forwarding services to/from Vietnam, the new subsidiary will also handle apparel products and other goods bound for Japan from Cambodia. It also intends to expand its business with an eye toward making a foray into cross-border transport in Indochina in conjunction with the inauguration of the ASEAN Economic Community (AEC) that is slated to take place at the end of this year and the advancement in economic integration in the ASEAN region.

The new company, Nankai AGL Vietnam, was established effective January 5 this year. It is capitalized at $200,000, and is owned 85% by Nankai Express, 10% by AGL and 5% by the local forwarder BEE Logistics. It has four employees. Shigeru Saito of Nankai Express has been appointed as its president. Opening ceremony of the new company is scheduled to be held in Ho Chi Minh on June 1.

AGL positions Japan-bound apparel cargoes as its base cargo. Nankai Express addresses the need to transport cargoes to Vietnam such as apparels, machines, ship parts and electronic parts. AGL specializes in marine transport, while Nankai Express' forte is air transport, so the fusion of the two companies' strengths in such areas as export/import, items handled and transport modes will generate synergistic effects for the duo.

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