NYK Acquires Stakes in Patimban Vehicle Terminal from Toyota Tsusho

By Editorial Team 22/08/2023
NYK Line
Summary

Nippon Yusen Kabushiki Kaisa (NYK), a Japanese company, has successfully acquired a 25 percent stake in PT Patimban International Car Terminal (PICT), the operator of the vehicle terminal located at Patimban Port in Subang, West Java.

According to details provided on NYK's official website, this acquisition involved shares previously held by Toyota Tsusho Corporation and was finalized on Jun 30, 2023. “The registration of these shares was officially completed on Aug 18,” NYK management stated in a press release on Monday.

NYK's management expressed that their participation in PICT through equity ownership will allow the company to offer highly efficient logistical services to customers, particularly motor vehicle manufacturers in Indonesia, including those involved in the Indonesian construction equipment market.

At present, PICT boasts an operational capacity of 220,000 vehicles annually, and expansion efforts are underway to enhance this capacity to accommodate up to 600,000 vehicles each year.

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