Kintetsu World Express (“KWE”) announced in January 2014 that it had reached an agreement with Trans Global Logistics Group Ltd., a Hong Kong logistics company, to purchase 49% of their shares on April 10, 2014.
In the press release KWE states: "TGLG is a logistics company headquartered in Hong Kong with a large number of customers that are retail-related companies (such as apparel and shoe manufacturers and large department stores). By utilizing TGLG’s know-how, the KWE Group aims to expand the handling of its retail-related goods, which are one of the Group’s important commodities as set out in its medium-term management plan. TGLG also handles a large amount of freight from Asia to North America, so we expect to be able to realize synergies in terms of expanding volume throughout the entire KWE Group."
Read the original full press release at http://www.kwe.com/news/2014/pdf/140128.pdf