Press Release

Nippon Express consolidates three Group companies in Italy

Merger aimed at strengthening lifestyle-related logistics services

Three Nippon Express Group companies - Nippon Express Italia Srl (Head Office: Milan; President: Shinichi Kakiyama), an Italian subsidiary of Nippon Express Co., Ltd. (President: Mitsuru Saito), Franco Vago SpA (Head Office: Florence; President: Arnaldo Vivoli; hereinafter, "Franco Vago"), and Traconf Srl (Head Office: Verona; President: Stefano Pistilli; hereinafter, "Traconf") - were merged to form Nippon Express Italia SpA (Head Office: Florence; President: Arnaldo Vivoli) on Wednesday, January 1, 2020.

A ceremony was held in Milan on Wednesday, January 15 to mark the merger.

[Purpose of merger]

In 2013 Nippon Express Co., Ltd., acquired Franco Vago, which is engaged in apparel-related forwarding operations primarily for luxury fashion brands in Italy, and in 2018 it acquired Tranconf, which is involved in warehouse storage, distribution and other services connected with fashion and lifestyle in Italy and the rest of Europe as well as the US and China, and which, like Franco Vago, has a customer base consisting principally of luxury fashion brands.

This merger aims in one fell swoop to accelerate and maximize synergy in sales and operations and achieve dramatic growth inclusive of the existing Nippon Express Italia Srl, to step up efforts in the high-fashion sector, a priority industry in Nippon Express's Corporate Strategy, and to make the new company a leading provider of logistics services to the fashion logistics sector.

The merger makes Nippon Express Italia SpA the largest Nippon Express Group company in Europe and the second largest overseas subsidiary after Nippon Express USA, Inc.

[Benefits of merger]

[Profile of new company]

Name Nippon Express Italia S.p.A.
Address Via VIII Marzo 6,50018 Badia a Settimo, Scandicci Florence, Italy
Employees 1,212
Business locations 87 locations worldwide

[Effective date of merger]

January 1, 2020