Far East Shipping Company (FESCO) and Japan's Mitsui & Co's have signed an agreement for the creation of a joint venture that will provide warehousing and distribution services, Fesco said in a press release.

The JV will service and distribute imports of electronic and household appliances from Japan.

The company's office will be located in Moscow and commence operations on May 1, 2010.

"This is another step towards realizing our strategy for turning the group into a full-fledged provider of logistic solutions," the press release said quoting FESCO's vice president for linear logistics, Sergei Kostyan