15.02.18NACCS Center to Sell 49% of Its Shares to Be Privatized

Nippon Automated Cargo and Port Consolidated System, Inc. (NACCS Center) will become a private enterprise. To this end, the special public corporation will sell stocks to logistics service providers and others to introduce capital from the private sector. However, it will not divest its state-owned share. The Ministry of Finance (MOF) will cash out stocks that are available for sale through a public tender, intending to complete all procedures by the second half of fiscal 2015 (October 2015-March 2016). NACCS Center is estimated to earn approximately \2.5 billion from the share sales.

NACCS Center boasts a capital of \1 billion and a capital reserve of \4.1 billion for a total of \5.1 billion, 49% of which will be sold through a public tender. It is expected that seaborne and airborne logistics service providers, exporters and importers and other relevant business operators using NACCS Center services will be dominant tenderers.