Marubeni and ASICS agree to transfer ASICS' domestic logistics operations to Marubeni

Mar. 03. 2015
Marubeni Corporation

Marubeni Corporation (“Marubeni”) and ASICS Corporation (“ASICS”) have agreed that ASICS will transfer all stocks of ASICS Physical Distribution Corp. (“APDC”), a 100%-owned subsidiary of ASICS, to Marubeni Logistics Corporation (“MLOGI”), a 100%-owned subsidiary of Marubeni which carries out 3PL (Third Party Logistics) business with ASICS’ domestics logistics operations, on October 1, 2015.

MLOGI is boosting expansion of its international and domestic logistics business by taking advantage of logistic solution functions. By affiliating with APDC, MLOGI will provide a more efficient logistics center operation and delivery system, utilizing the experience and know-how of current employees.

MLOGI has positioned 3PL (Third Party Logistics; taking over customer’s supply chain functions) business as one of its core businesses. Upon this transaction, MLOGI will carry out packaged logistics solutions; 1) transfer of logistics operation, 2) succession of existing assets (warehouse and equipment), and 3) provision of a state-of-the-art logistics center and logistics system. By providing multiple functions and services, MLOGI will continuously enhance sports and apparel goods logistics, and continuously expand 3PL business in both the international and domestic markets.

< APDC Company profile >

Name of the Company : ASICS Physical Distribution Corp.
Founded : August, 1982
Head Office : 1-2, Hanshin Ryutsu Center, Yamaguchi-cho, Nishinomiya-City,HYOGO
Principal businesses : Warehousing business, consigned freight forwarding business
Capital : 300 million yen
President : Osamu KAII
Number of Employees : 570 (as of January 31, 2015)

< Contract scheme >

Contract scheme

*DC: Distribution Center
A) MLOGI acquires all of the stocks of APDC. As a 100% subsidiary of MLOGI, APDC will
     continuously provide domestic logistics service for ASICS.
B) MLOGI continuously makes use of ASICS-owned and APDC-used logistics facilities.
     ASICS changes tenure of its critical logistics center in eastern Japan, Tsukuba
     Distribution Center, into the trust beneficiary right. MG leasing corporation (“MGL”)
     purchases the trust beneficiary right from ASICS. MLOGI rents the Tsukuba Distribution
     Center from MGL and continuously makes use of it.
C) As for Hanshin Distribution Center, a critical logistics center in western Japan, MLOGI is 
     scheduled to set up Kobe Distribution Center (tentative) near Hanshin Distribution Center
     on August, 2017. MLOGI rents the Kobe Distribution Center from Goodman Group,
     a major real estate fund in the long-term.

< Schedule >

 February 27, 2015       Execution of Stock Purchase Agreement
 April 1, 2015               Acquisition of Tsukuba Distribution Center from ASICS
                                 before stock transfer
 October 1, 2015          Execution of Stock Transfer of APDC
 After August, 2017      Construction of Kobe Distribution Center (tentative & scheduled)

< Company Profile >

(1) ASICS Corporation
     Founded : September, 1949
     Head Office : 7-1-1, Minatojima-Nakamachi Chuo-ku, KOBE
     President and CEO : Motoi OYAMA
     Principal Business : Manufacture and sales of sports goods

(2) Marubeni Logistics Corporation
     Foundation : December, 2004*
     Head Office : Nishikicho 3-13, Ohtemachi Chiyoda-Ku, TOKYO
     Shareholders : Marubeni Corporation (100%)
     President : Moritsugu HOSODA (to be inducted on April 1, 2015)
     Number of Employee : 864 (As of January 31, 2015. Sum of two companies) 
     * Logipartners Inc., a 3PL company and Marubeni Logistics Corporation, an
        international freight forwarding company, are scheduled to be merged into Marubeni
        Logistics Corporation on April 1, 2015 (merging company: Logipartners, Inc.).