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Nissho Iwai Reinforces its Group Management, Unifying its Distribution Subsidiaries to Form NISSHO IWAI LOGISTICS CORPORATION

Aug. 22, 2001

TOKYO(August 22, 2001)--Nissho Iwai will integrate its group companies, NI LOGISTICS CORPORATION (head office: Tokyo, Minato-ku; President: Hiroaki Moroboshi) and NSC LOGISTICS CORPORATION (head office: Tokyo, Minato-ku; President: Toru Abe) and will name the new company NISSHO IWAI LOGISTICS CORPORATION on October 1. 

Nissho Iwai will position the new company as a strategic core company in logistics services for the Nissho Iwai affiliated company group, broadly utilizing the know-how of Third Party Logistics and combined transportation of the NSC LOGISTICS CORPORATION for other Nissho Iwai group business fields, and will aim to expand its domestic physical distribution business. Moreover, Nissho Iwai will aim to develop new business by inviting a strategic partner, Senko Co., Ltd. to be a stockholder of the new company, and by combining distribution assets such as Senko's logistics technology and warehousing with Nissho Iwai's commercial capabilities. 

The company will be organized with a capital of 143.9 million yen, with a capital composition of 95% by the Nissho Iwai group and 5% by Senko Co., Ltd., and will aim to introduce external capital in the future by forming domestic and international strategic alliances. 

Established in 1986, NI LOGISTICS CORPORATION performs marine and air transportation, focusing on the import/export business support entrusted to it by Nissho Iwai. On the other hand, NSC LOGISTICS CORPORATION, established in 1998, performs Third Party Logistics such as combined transportation of foodstuffs, and the storage/delivery of goods for volume retailers. 

As a new business model, utilizing the functions of a general trading company, Nissho Iwai is accelerating specialization in the fields of Information Technology, Financial Technology and Logistics Technology. For the Information Technology and Financial Technology fields, Nissho Iwai formed ITX CORPORATION and NISSHO IWAI FTX HOLDINGS CORPORATION respectively. Establishment of the NISSHO IWAI LOGISTICS CORPORATION will be positioned as a start-up in the Logistics Technology field. By making full use of the technology of each field, Nissho Iwai will from now on, positively carry out activities that are unique to the trading company. 

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