Food wholesaler Kokubu makes Shanghai logistics firm wholly owned unit

Economy

Food wholesaler Kokubu Group Corp. has acquired an additional stake in Shanghai Hengfu Logistics Co. to make it a wholly owned subsidiary in efforts to accelerate its business expansion in China. Kokubu Group obtained a 29.88 percent stake in Shanghai Hengfu in 2016 by accepting new shares issued by the Shanghai-based logistics company. The Tokyo-based company announced Friday the purchase of the remaining shares of Shanghai Hengfu for an undisclosed amount of money. Shanghai Hengfu has large logistics centers in Shanghai and Beijing, accommodating services for room-temperature, chilled and fr...

Kyodo News

Kyodo News