TOKYO: July 29, 2011: Japan Airlines Co., Ltd. (JAL), JAL Group subsidiary Jupiter Global Limited (JPT), and Mitsubishi Logistics Corporation (Mitsubishi Logistics) today concluded an agreement to cooperate more closely in their cargo business, and also to increase the paid-in capital of JPT through a third-party allotment of new shares to Mitsubishi Logistics, which will subsequently hold 49% of shares in JPT while the JAL Group holds 51%.
The new and deeper level of relationship will allow JPT to draw from Mitsubishi’s wealth of know-how accumulated over more than a hundred years of operations in the logistics industry in Japan, enabling JPT to strengthen its cargo transportation, storage and forwarding services as it strives to develop into a comprehensive global logistics provider. JPT will also be able to provide customers with a wider variety of solutions through utilizing Mitsubishi’s ocean freight and third party logistics functions.
Through joint sales and operational efforts with Mitsubishi Logistics, new synergies can be created that will better equip JPT with the capabilities of catering to the wide-ranging needs of new customers, meeting their expectations with solutions and services they truly seek, and thus raising the competitiveness of JPT and of JAL.
With the growth and advancement of JPT, JAL aims to deliver services of the highest quality and value utilizing JAL Group’s comprehensive international and domestic networks, and thereby build a resilient cargo business structure with a consistent revenue stream. By fully capitalizing on the synergies from this collaboration, JAL aims to improve the quality of its cargo transportation business and increase the convenience for its customers.
*Jupiter Group has 20 consolidated subsidiaries, 6 joint venture companies and 9 affiliated companies and is an international cargo transportation operator covering 47 cities in 17 countries with a strong focus on China and Asia.