Mitsubishi Logistics has agreed to buy Hankyu Hanshin Express, the international freight arm of rail and property group Hankyu Hanshin Holdings, for ¥120.1bn, the Japanese company said on 30 October 2026.
Why Mitsubishi Logistics Corporation is buying Hankyu Hanshin Express Co., Ltd. (from Hankyu Hanshin Holdings)
Mitsubishi Logistics said Hankyu Hanshin Express brings a global network, particularly in Asia, and expertise in air and sea forwarding. The deal is intended to expand its international transport business by region and industry and accelerate the global roll-out of total logistics services under its 2025–2030 management plan.
Deal terms and financing
The acquisition price for the 10,910 shares is ¥120.11bn, with advisory and other costs of about ¥1.23bn. Before completion, Hankyu Hanshin Holdings will acquire Seino Holdings' 34% stake so that it owns 100% of Hankyu Hanshin Express, then sell the entire company to Mitsubishi Logistics.
Regulatory approvals and timing
Completion is planned for the fourth quarter of fiscal 2026, subject to licences, approvals and other conditions in the share transfer agreement.
Market context
Japanese press reported that the combined forwarding revenue of the two companies would be about ¥168.8bn. Hankyu Hanshin Holdings' international transport segment reported external operating revenue of ¥106.4bn in the year to March 2026.
