In February, Yusen Logistics (U.K.) Ltd. ("YLUK"), a Yusen Logistics Group company, reached an agreement with the SEGRO Group, a real estate company, on a 15-year lease of a large warehouse that will open in the U.K. in April 2025. The total investment, including the total lease amount and capital investment in the new warehouse, will be approximately 280 million pounds (approximately 50 billion yen), the largest investment ever made by the NYK Group's logistics business.
The new warehouse will be located in Northampton, a key logistics hub in England’s East Midlands region. The 110,000 square meter site will be the largest of the Yusen Logistics Group's facilities. In addition to daily necessities and consumer durables, YLUK will be able to handle pharmaceuticals in a dedicated temperature-controlled space to meet the needs of a wide range of customers. The company aims to grow further as a core corporation in the logistics business by improving service quality for existing customers and attracting new customers.
The NYK Group positioned the logistics business as a core business in its medium-term management plan announced in March 2023. The lease agreement for this new warehouse will further strengthen the Group's logistics business following the February 2023 acquisition of U.S. logistics company Taylored Services Parent Co., Inc. by Yusen Logistics (Americas) Inc. and the February 2024 acquisition of a U.K. delivery service platform by International Logistics Group Limited. The NYK Group will continue to invest aggressively in the logistics business, which is a growth engine of the Group.