Sagawa Express sets up nationwide delivery joint venture in China
Japan’s parcel delivery company Sagawa Express Co Ltd said it has set up the first nationwide distribution firm in China with local partner China Poly Group Corp. Poly-Sagawa Logistics Co Ltd, a 50-50 joint venture, was established in Shenzhen in June with US$10.8 million in capital and aims to start operations in September, having already received government approval, the companies said. The new company will provide domestic shipping and “forwarding services related to exports and imports by land, sea and air,” the statement said. It is aiming to bring in three billion yen in annual revenue by 2006 and have 30 offices mainly in Beijing, Shanghai and Guangdong province as well as the booming coastal regions.
