News & Information 2012
Joint Venture Gati-Kintetsu Express Started in India
～Ceremony Held in New Delhi～
Regarding the "Notification Regarding Establishment of Joint Venture in India" which was announced on February 13, 2012, we would like to announce the completion of the formalities of incorporation with the joint venture partner Gati Ltd.
1. Summary of Joint Venture
|Name||Gati- Kintetsu Express Private Ltd.|
|Address||1-7-273, M.G.Road, Secunderabad AP 500 003 India|
|Description of Business||Domestic Freightage Operations / Logistics Operations (business succession from Gati Ltd.)|
|Capital Stock||5 Million INR|
|Capital Payment Date||June 15, 2012|
|Fiscal year Ends||June|
|Investment Ratio||Gati Ltd. : 70% KWE Group : 30%|
3. Holding of Opening Ceremony
On June 28 (Thursday), the Gati- Kintetsu Express Private Ltd. (hereinafter Gati- Kintetsu) held a press conference and an opening ceremony in New Delhi, India.
At the press conference, Gati Ltd. CEO Mr. Agarwal, Chairman Mr. Chugh, and our company president Mr. Ishizaki received many questions from about 20 media outlets in attendance, indicating the high level of interest and expectation toward the new company. Also, that evening at the opening ceremony, a total of over 250 persons including those involved in local Indian businesses, Western and Japanese businesses were in attendance.
At the ceremony, dubbed "Miracles happen when two giants team up. Gati India & KWE Japan", President Ishizaki spoke about the expectations for the new company and future business expansion for the KWE group in the Indian Market, saying, "In expansion of business in India, enrichment of Indian domestic logistics is a key point in differentiating ourselves from other companies. It is a great joy to be able to take the wonderful service and infrastructure of Gati Ltd., with its 4,000 trucks in operation making time-and-date specified deliveries, and add to it the Service Mind of KWE to provide service under the Gati-Kintetsu Brand. In the future, by combining the high quality Indian domestic logistics service of Gati Ltd. with the global network of the KWE Group, we want to provide logistics service of a global standard in India, and through logistics, contribute to the expansion of all of your Indian business, while by extension contributing to the economic development of India and Japan. As the KWE Group, in the future we would like to realize predominance in India similar to that built up in China."
Also, Mr. Agarwal spoke of the ambitions of the new company saying that "The joint venture with KWE will set a new benchmark in Express Distribution and Supply Chain Solutions in India. All our efforts will now be channelized towards synergizing the strengths of both the companies thereby creating a win-win situation. We believe this alliance will create enhanced value for our customers and shareholders".
At the ceremony, there was the introduction of the Gati- Kintetsu logo mark, ceremonial opening of a sake barrel, Indian dancing, etc., and it ended on a high note, with expectations for the new company high.
KWE President Ishizaki giving a speech at the ceremony
Press conference (from left: Gati chairman Chugh, KWE President Ishizaki, Gati CEO Agarwal)