Mitsui & Co., Ltd. ("Mitsui", head office: Chiyoda-ku, Tokyo, President: Masami Iijima) and Nippon Express Co., Ltd. ("Nippon Express", head office: Minato-ku, Tokyo, President: Kenji Watanabe) yesterday reached an agreement on the formation of a strategic business partnership in the area of domestic and international logistics.
Nippon Express, with 388 offices in 210 cities in 36 countries overseas, has built the world's largest integrated global logistics network enterprise. Key areas of business for Nippon Express include air, marine, truck and rail transportation services which support their warehousing and storage solutions. In addition, their global logistics network enables the installation and construction of heavy machinery globally. A key strategic goal for the Nippon Express Group is to increase the diversification of their international business portfolio from the current 30% of sales to 50%.
Logistics is also a key area of business for Mitsui. Its comprehensive involvement ranges from logistics infrastructure, including the management of ports and airport terminals, to warehousing and international intermodal transportation. In the field of logistics infrastructure, Mitsui commenced operation of an international cargo terminal at Haneda Airport in October 2010 through its wholly owned subsidiary, Tokyo International Air Cargo Terminal Ltd. (TIACT). Mitsui continually meets the growing needs of its customers in the area of intermodal transportation through the development of import, export, storage and transportation infrastructure in key locations throughout Japan and globally.
Mitsui and Nippon Express will collaborate on opportunities in the field of global logistics; leveraging their deep experience and knowledge in global logistics. As a first step in this process, both companies aim to contribute to the expansion and development of Haneda Airport by collaborating between Mitsui's international cargo terminal business at Haneda and the international air freight business of Nippon Express. Mitsui and Nippon Express will also expand the scope of their activities in the fields of logistics infrastructure, storage and transportation in the BRICs as well as other emerging economies; such as Southeast Asia and the Middle East.
This announcement contains forward-looking statements. These forward-looking statements are based on Mitsui's current assumptions, expectations and beliefs in light of the information currently available to it and involve known and unknown risks, uncertainties and other factors. Such risks, uncertainties and other factors may cause Mitsui's actual results, financial position or cash flows to be materially different from any future results, financial position or cash flows expressed or implied by these forward-looking statements. These risks, uncertainties and other factors referred to above include, but are not limited to, those contained in Mitsui's latest Annual Securities Report and Quarterly Securities Report, and Mitsui undertakes no obligation to publicly update or revise any forward-looking statements.
This announcement is published in order to publicly announce specific facts stated above, and does not constitute a solicitation of investments or any similar act inside or outside of Japan, regarding the shares, bonds or other securities issued by us.