A roundup of 6 logistics M&A cases, highlighting developments covered in the 2026 edition, including NIPPON EXPRESS’s transfer of Osaka Warehouse and Kawanishi Warehouse’s acquisition of MT Service as a wholly owned subsidiary.
NIPPON EXPRESS Holdings decided to transfer the shares of Osaka Warehouse, a consolidated subsidiary, to CRE. The transfer is positioned as part of the NX Group’s business portfolio strategy, with the aim of streamlining low-profit, non-core businesses and allocating resources to growth businesses. The transfer was decided on 13 February 2026. For CRE, the transaction is expected to provide an opportunity to expand its warehouse management platform in the Kansai region. A related notice has been provided as reference material.
On 30 January 2026, Kawanishi Warehouse announced that it had acquired all shares of MT Service, making it a wholly owned subsidiary. The transaction forms part of the expansion of its business domain under its medium-term management plan, Vision2027, and aims to optimize the supply chain and improve profitability by strengthening coordination between its warehousing and transport functions. It will also contribute to advancing reconstruction efforts, using part of the ¥1.8 billion growth investment allocation.
Konoike Transport stated that it would accelerate business expansion by positioning India as its “second founding ground.” It positioned its local base, KIPL, as the group’s coordinating company, and the plan also includes entry into the steel sector. The company aims to establish a presence in the local market by developing logistics, engineering and medical businesses across India.
SBS Holdings made Dutch company Blackbird Logistics B.V. a wholly owned subsidiary. The decision was made on 20 January 2026, and the remaining 20% stake had already been additionally acquired on 18 December 2025. The company will integrate its European and Oceania network and the expertise of the SBS Group to strengthen its global 3PL service platform.
Kuribayashi Steamship decided to make Sanriku Transport a wholly owned subsidiary through a share exchange. The effective date is scheduled for 1 April 2026, and the exchange ratio is 1 share of Kuribayashi Steamship to 0.19 shares of Sanriku Transport. The transaction aims to integrate logistics functions in the Tohoku region, strengthen coordination between marine and land transportation, and accelerate decision-making.
On the same day, Kuribayashi Steamship also decided to make K Seven, which handles sales of marine equipment and parts manufacturing, a wholly owned subsidiary through a share exchange. The effective date is scheduled for 1 April 2026, and the exchange ratio is 1 share of Kuribayashi Steamship to 0.07 shares of K Seven. K Seven will be positioned as a base for the sale of marine equipment and the manufacture and sale of its own-brand shaft couplings.