PRN: Nippon Express secures equity interests in MD Logistics & MD Express

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Sourced from Cision PR Newswire:

Nippon Express Co., Ltd. (Code No.9062, First Section, Tokyo Stock Exchange; hereinafter the “Company”) hereby announces that, as announced on May 22, 2020, in the “Acquisition of Equity Interests in MD Logistics, Inc. and MD Express, Inc. (Turning into a Subsidiary),” it has completed the acquisition of entire equity interests in MD Logistics, LLC and MD Express, LLC (together, “MD Logistics”) (*Note) through the Company’s U.S. subsidiary, Nippon Express USA, Inc.

(*Note) MD Logistics’ trade names were MD Logistics, Inc. and MD Express, Inc. However, as previously announced, the two entities have been reorganized to LLC (Limited Liability Company) as part of the transfer procedure of equity interests.

MD Logistics, established in 1996, is a domestic logistics provider for the pharmaceutical and retail industries in the United States. MD Logistics’ revenue for the fiscal year ending December 2019 was 51 million USD (about 5.5 billion JPY).

The Nippon Express Group is developing a wide range of logistics service systems suitable for the pharmaceutical industry. In addition to investment in warehousing and delivery solutions in Japan in accordance with quality control standards based on the GDP guidelines, the Company is also working overseas to expand logistics facilities that comply with guidelines for the relevant distribution of pharmaceuticals in each country.

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