... as expected: Nippon Express snaps up Austria's cargo-partner

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NIKKEI ASIA reports:

Nippon Express Holdings, the holding company of Nippon Express, will purchase a majority stake in Austrian logistics company Cargo-Partner for over 100 billion yen ($743 million), Nikkei has learned.

Japan’s domestic market is not expected to grow in the medium to long term due to a shrinking population and other factors. Nippon Express hopes the acquisition of the Cargo-Partner, which is strong in Europe, the U.S., and Asia, will help it become more competitive in international logistics.

An agreement is expected ...