Seino Holdings and Mahindra Logistics Unite for India's Logistics Solutions
Seino Holdings Co. Ltd., a leading Japanese logistics company, is expanding into the Indian market by partnering with Mahindra Logistics Limited. This collaboration seeks to provide comprehensive logistics solutions, capitalizing on Seino's international connections with Japanese automotive clients to meet their logistics needs in India, according to the company.
The company has approved an investment of up to INR 2.20 crore in the JVCo, which will be made in one or more tranches. The project is set to be completed by September 30, 2024. The company will own 50% of the JVCo's equity share capital, with the remaining 50% held by Seino.
According to the agreement, Mahindra Logistics and Seino Holdings will establish a joint venture. This JV will deliver integrated logistics solutions to Japanese automotive and strategic non-automotive customers, encompassing auto outbound logistics, warehousing, transportation, and a comprehensive technology suite, Mahindra Logistics stated in its regulatory filings. The focus on electric vehicles and initiatives like "Make in India" are expected to drive ongoing growth from Japanese OEMs and auto component manufacturers.
Yoshitaka Taguchi, CEO, Seino Holdings Co. Ltd., said, “Seino Holdings is expected to provide significant value to customers, and in collaboration with Mahindra Logistics' unmatched capabilities, we endeavour to serve Japanese customers in India. Through this partnership, we will offer comprehensive logistics solutions supported by digitization, innovation, and a customer-centric approach, allowing us to efficiently manage the end-to-end supply chain”.
Rampraveen Swaminathan, MD & CEO, Mahindra Logistics Limited, said, “India's economic resurgence, complemented by its unique geographical location, offers Japanese multinational companies an unprecedented opportunity in the country. Seino Holdings, with its distinguished legacy of business excellence, is in alignment with our commitment to delivering exceptional customer experiences and robust process capabilities throughout the supply chain. We envision this partnership contributing to the creation of a sustainable INR 1,000 crore business model over the next five years, further reinforcing the 'Make in India' initiative and fostering local manufacturing and economic growth”.
