Nippon Yusen to expand business in Thailand
- Published: 2 Jul 2012 at 12.11
- Online news: News
Nippon Yusen KK, Japan's largest shipping line, intends to double sales at logistics operations as global overcapacity depresses rates at sea-cargo units and the company also plans to expand its car-hauling business in Thailand.
President Yasumi Kudo said freight-forwarding and warehousing businesses led by unit Yusen Logistics Co will boost sales to 800 billion yen (US$10 billion) within seven years. Revenue at these operations, which bring profit margins of about three per cent, may climb to one trillion yen, he said in a June 29 interview in Tokyo, without giving a timeframe.
"We have a chance to make more money through logistics than shipping," he said. "Margins are small, but stable."
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