NIPPON EXPRESS HOLDINGS ACQUIRES MINORITY STAKE IN INDIA’S WIZ FREIGHT

KUALA LUMPUR, Jan 19 (Bernama) -- Nippon Express Holdings Inc has acquired a minority equity stake in Wiz Freight (Wiz), a digital forwarding service provider in India, on Jan 12 as its third investment made via the NX Global Innovation Fund, a corporate venture capital (CVC) fund established in January last year.

It is expected that international logistics operations will become more digitised as a result of major challenges the industry has faced in recent years, including the increasing complexity of supply chain and the standardisation/streamlining of trade operations brought about by the expansion of global transactions.

According to a statement, the Nippon Express (NX) Group has been pursuing digital transformation (DX) and, in July of last year, it has launched e-NX Quote and e-NX Visibility, both digital forwarding services that enable online quotation and tracking.

To further promote DX, the group has been actively exploring the use of external resources, including collaborations with startup companies in Japan and overseas, as one solution.

By investing in Wiz which is a company strong in digital forwarding services in India and other emerging markets, the NX Group will bolster its own global forwarding business and accelerate its DX initiatives.

Founded in India in 2020, Wiz addresses rapidly growing needs for digital cross-border supply chain services in emerging countries and has more than 900 employees working at over 25 offices in six countries/regions.

The NX Group will continue co-creating new business values with promising startups by leveraging its domestic and international networks to achieve business growth.

-- BERNAMA