Hi­tachi, Sa­gawa form lo­gis­tics al­liance

China Daily (Canada) - - BUSINESS -

Hi­tachi Ltd and Sa­gawa Ex­press Co have agreed to buy stakes in each other’s distri­bu­tion busi­ness as com­pe­ti­tion among Ja­panese lo­gis­tics com­pa­nies in­ten­si­fies. Hi­tachi Trans­port Sys­tem Ltd will buy 20 per­cent of Sa­gawa Ex­press Co for 66.3 bil­lion yen ($591 mil­lion) from its par­ent SGHold­ings Co. SGHold­ings will also buy 29 per­cent ofHi­tachi Trans­port for 87.6 bil­lion yen, said a state­ment.

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