Itochu boosts investment in Taiwan Pelican Express

Economy

Japanese trading giant Itochu Corp. has stepped up its investment in Taiwan Pelican Express Co. to take advantage of growing demand for e-commerce and direct-to-consumer delivery services in the Taiwanese market. Itochu announced Wednesday the acquisition of additional shares by a wholly owned subsidiary, Itochu Taiwan Corp., to raise its stake in Taiwan Pelican Express from 6.98 percent to 19 percent. Itochu aims to provide a wider range of e-commerce services for local businesses through the home delivery networks of Taiwan Pelican Express, which delivers about 40 million items a year. Relev...

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