Plus Logistics announced on October 17 that its board of directors, which met on September 19, resolved to acquire 82.8% of the shares of MI Holdings (HD) and make it a subsidiary.
PLUS Logistics was established in 1990 by spinning off the logistics division of PLUS, a company that manufactures and sells office furniture, stationery, and office supplies.
The company primarily operates 3PL (Third-Party Logistics) businesses, such as logistics strategies and center operations, on a non-asset basis. In its medium-term management plan, the company is working to strengthen its business portfolio by expanding the profitability of its logistics business.
MIHD is a holding company with logistics as its core business. As a major distribution processing company in the Kansai region, it has many corporate clients including department store delivery services, apparel manufacturers, specialty stores, and mass retailers. It owns Mizuiwa Transport and Mizuiwa, and provides one-stop logistics solutions including transportation, storage, cargo handling, and distribution processing using its own vehicles.
By having MIHD and its five subsidiaries join the Plus Logistics Group, the aim is to strengthen transportation and delivery capabilities and create synergies in the logistics business.
The stock transfer date is scheduled for October 31st. The acquisition price is not being disclosed at the request of the other party.
■ Overview of the subsidiary to be transferred
Name: MI Holdings
Address: 2-5-20 Shinsuna, Koto-ku, Tokyo
Business activities: Management and administration of group companies, e-commerce sales business
Capital: 1000 10,000 yen
Date of establishment: April 2017, 6
Major shareholders and their shareholding ratios: Morio Inoha 73.0%, plus 5 others.
■ Overview of the subsidiary company
Name: Mizuiwa Transport
Location: 6-1-6 Izumio, Taisho-ku, Osaka City, Osaka Prefecture
Business activities: General freight trucking, logistics outsourcing, warehouse management
Capital: 6000 10,000 yen
Date of establishment: April 1951, 6
Major shareholder and shareholding ratio: MI Holdings 100%
Name: Mizuiwa
Address: 2-5-20 Shinsuna, Koto-ku, Tokyo
Business activities: General freight trucking, logistics outsourcing, warehouse management
Capital: 800 10,000 yen
Date of establishment: April 2017, 10
Major shareholder and shareholding ratio: MI Holdings 100%
