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NYK has signed a joint-venture agreement with Vietnam Ocean Shipping Agency Corporation (VOSA)* to establish NYK Auto Logistics (Vietnam) (NALV), a logistics company for finished cars. On December 2, a signing ceremony was held at the NYK head office in Tokyo and attended by Vu Xuan Trung, general director of VOSA, and NYK president Tadaaki Naito.

NALV will be owned by NYK (80%) and VOSA (20%) and will offer high quality services for inland logistics such as the storage, delivery, and PDI** of imported cars to Vietnam, where sales are strong and increased demand is expected.

NYK currently has a stake in over 40 companies all over the world providing finished car inland logistics, often combining inland logistics with sea transport by RORO vessels to offer a total logistics service. NYK plans to offer a similar comprehensive service throughout Vietnam.

Based on the company???s "More Than Shipping 2018" medium-term management plan, the NYK Group will utilize its accumulated expertise of high-quality transportation services around the world to secure stable profits.

* Vietnam Ocean Shipping Agency Corporation (VOSA)

A shipping agent that is part of Vietnam National Shipping Lines (VINALINES), a government-managed shipping company in Vietnam.

** PDI (pre-delivery inspection): Services for finished vehicles ??? such as final inspections, repairs, and parts application ??? before delivery to car dealer.