On September 26, Nichirei Logistics Group Headquarters signed a stock transfer agreement to acquire the outstanding shares of ICCL Group, which operates a cold chain logistics business in Malaysia.
The process is expected to be completed around December 2025, after which ICCL Group is expected to become a member of the Nichirei Logistics Group.
Nichirei Logistics Group, in its medium-term management plan "Compass×Growth 2027" launched this fiscal year, aims to strengthen profitability and improve capital efficiency, while pursuing business growth through both organic and inorganic methods in its overseas operations.
The company entered the Malaysian market in 2018 and has focused on providing integrated storage and transportation services within the country through investments in "NL Cold Chain Network (NLCCN)" and "NL Litt Tatt Group (NLLTG)".
ICCL Group operates cold chain logistics domestically and in neighboring countries, utilizing its own warehouses capable of handling multiple temperature zones in Penang, Malaysia's second-largest city, as well as its own fleet of refrigerated trucks and trailers.
Through this acquisition of shares, we will promote further business expansion in Malaysia through collaboration with NLCCN and NLTG.
In addition, by leveraging ICCL Group's cross-border transportation capabilities and strengthening its functions through collaboration with Nichirei Logistics Group's bases in Thailand and Vietnam, the company aims to enhance its presence in ASEAN.
■ Overview of ICCL Group
Company name (ICCL Group is a collective term for the following three companies): "Integrated Cold Chain Logistics Sdn. Bhd.", "Kris Sdn. Bhd.", and "ICCL Distribution Sdn. Bhd."
Location: Penang, Malaysia
Founded: 2006
Representative: Kevin Lim Teik Seng
Capital: 1300 million Malaysian Ringgit (approximately 4.5 million Japanese Yen) *Consolidated group figures
Sales: 506 million Malaysian Ringgit (approximately 17.7 billion Japanese Yen) *Group consolidated figures (Fiscal year ending December 2024)
Operating profit: 112 million Malaysian Ringgit (approximately 390 million Japanese Yen) *Consolidated group figures (Fiscal year ending December 2024)
Main business: Frozen, refrigerated, and temperature-controlled warehousing (including some bonded warehouses), transportation (including cross-border transportation), and forwarding (customs clearance services, etc.).
