Nippon in Panasonic deal

Nippon Express is to take a 66.7 per cent shareholding in Panasonic Logistics.

Osaka-based Panasonic Logistics had net sales of £426m in the year to 31st March 2013. Panasonic said the deal would enable it to boost the competitiveness of its group logistics via Panasonic Logistics by utilising the know-how of Nippon Express. The deal is expected to be completed in December 2013 at which point the company will change its name to Nittsu-Panasonic Logistics Co Ltd.

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