Japan's All Nippon Airways Co. and two major international airfreight forwarders established a new joint venture company on Tuesday to provide business-to-business international express delivery services in Asia.

The new company, All Express Corp. (ALLEX), capitalized at 210 million yen ($2.1 million), was set up by ANA, Nippon Express Co. and Kintetsu World Express, Inc. and will commence operations this summer, the three companies said in a joint statement.

ANA holds a 36.38-percent stake, with Nippon Express and Kintetsu holding stakes of 30.38-percent each. Forwarding companies MOL Logistics (Japan) Co., Ltd. and Yusen Air & Sea Service Co., Ltd. hold stakes of 1.43 percent each.

The venture is headed by Tsugumichi Yoshimitsu of ANA, and based at Tokyo's Haneda Airport.

ANA is Japan's second-largest airline after Japan Air Lines Co., while Nippon Express and Kintetsu are the nation's two largest international airfreight forwarders. MOL Logistics (Japan) and Yusen are logistics subsidiaries of MOL and NYK of Japan.

The new company will apply for operating licenses ahead of the planned summer start of its express parcel delivery services from Japan to Hong Kong and Shanghai, the partners said.

The area covered by the venture's services will be gradually extended and will make use of ANA's Okinawa-based cargo network, which starts operation in autumn 2009, with Naha airport as its hub, and will cover the Asian region.

Hisane Masaki
Journal of Commerce