NYK sells NCA to ANA
Nippon Yusen Kabushiki Kaisha (NYK) has signed an mou with ANA Holdings to transfer all of the shares of its consolidated subsidiary Nippon Cargo Airlines (NCA) to ANA Holdings.
NYK has been involved in the management of NCA as a major shareholder since its establishment in 1978, and in 2010, NYK acquired all of the shares of NCA, with the aim of becoming a comprehensive logistics company offering ocean, overland and air transport services.
However, in the highly volatile business environment of airfreight transportation, NCA has been facing challenges in expanding its business scale at a level that is commensurate with such costs.
On the other side, ANA wishes to substantially enhance its international air cargo network, products and services based in Japan, and also aims to contribute to the development of global economic activities both in Japan and abroad. (ah)