Disclaimer :

The Competition DG makes the information provided by the notifying parties in section 1.2 of Form CO available to the public in order to increase transparency. This information has been prepared by the notifying parties under their sole responsibility, and its content in no way prejudges the view the Commission may take of the planned operation. Nor can the Commission be held responsible for any incorrect or misleading information contained therein.

SECTION 1.2

Description of the concentration

The notification relates to the acquisition by Nippon Express Co., Ltd. ("Nippon Express") of approximately 66.67% of the issued share capital in Panasonic Logistics Co., Ltd. ("Panasonic Logistics"), currently a wholly-owned subsidiary of Panasonic Corporation ("Panasonic"). Following the concentration, Nittsu Panasonic Logistics will constitute a full-function joint venture and the transaction qualifies as a concentration under Article 3(4) of Council Regulation No 139/2004.

Nippon Express is a Japanese company headquartered in Tokyo, Japan. Nippon Express is not controlled by any third party and is publicly traded on the Tokyo Stock Exchange.

Nippon Express is a global logistics supplier, including domestic and international relocation, and transportation of specialised goods and fine art by rail, sea and air.

Panasonic is a publicly held Japanese company with its headquarters in Osaka, Japan and is publicly traded on the Tokyo and Nagoya Stock Exchanges. Panasonic is primarily active worldwide in the development, manufacture and sale of a wide range of audiovisual and communication products, home appliances, electronic components, industrial and other products.

Panasonic Logistics is a Japanese company headquartered in Osaka, Japan and is currently a wholly-owned subsidiary of Panasonic. Panasonic Logistics provides air and sea freight forwarding, land freight transport, warehousing and storage services both to entities within the Panasonic group and to third parties.