Nihon Kotsu, DeNA to Integrate Taxi-Hailing Services

Economy

Tokyo, Feb. 5 (Jiji Press)--Major Japanese taxi operator Nihon Kotsu Co. and information technology firm DeNA Co. <2432> will integrate their taxi-hailing app businesses on April 1.

In their integrated services, over 100,000 taxis will be available for hailing in Japan, the companies said Tuesday.

The integration is intended to increase cost competitiveness, improve customer convenience and promote the cultivation of the taxi-hailing app market.

DeNA's taxi-hailing business MOV, which offers some 30,000 cabs, will be spun off and taken over by JapanTaxi Co., a Nihon Kotsu subsidiary.

After the merger, DeNA will acquire new shares to be issued by JapanTaxi to own a 38.17 pct equity stake in the company. The ownership will match that of Nihon Kotsu, with the two companies becoming the leading shareholders of JapanTaxi, whose name will be changed after the business integration.

[Copyright The Jiji Press, Ltd.]

Jiji Press