1-9-3,Higashi-Shimbashi,Minato-ku, Tokyo 105-8322, Japan Phone: +81 (3) 6251-1111
URL: (Japanese) www.nittsu.co.jp (English) www.nipponexpress.com
Nippon Express Group
Integrated Report 2021 Year ended March 31, 2021
Prole
The Nippon Express Group Corporate Philosophy
Our Mission | Be a Driving Force for Social Development |
Our Challenge | Create New Ideas and |
Value that Expand the Field of Logistics | |
Our Pride | Inspire Trust Every Step of the Way |
Since our founding, the Nippon Express Group has employed its logistical strengths to connect people, businesses, and regions throughout the world. In so doing, we have continuously supported social development.
While our mission never changes, we advance continuously to meet the world's changing needs. Making no compromise in safety and maintaining a deep focus on environmental issues, we continuously strive to deliver innovative solutions at the next frontier of logistics.
We will forever take pride in our ability to inspire trust and answer the call of society. Every move we make is aimed at advancing society and bringing
an enriched life to future generations.
The Nippon Express Group Corporate Message
The NIPPON EXPRESS Group brings customers' possibilities to reality. There are often many solutions, but only one way is the way. We use our determination to find the best way to overcome hurdles and take our customers across the finish line.
Our unified strength makes us unique, driving | Every client, project, and task is different, and | Sure, there are many solutions, but there's only |
everything we do on the frontline and in the | sometimes we have to innovate to achieve our | one best way. We don't find a way or some way; |
background to deliver unparalleled logistics | goals. Our work demands exploration and thinking | we find the best way, and we do it with passion |
services. The word "we" speaks to a complex | outside the box. It's how we find the best way. The | and perseverance. Our efforts build connections to |
system of individuals with specialized skills that | verb "find" in its present form tells a story of a | and between individuals and businesses. |
work together to become an unstoppable force. | company willing to dig deeper for the best results. | |
Contents
■ Profile | ■ Business Plan Progress and Finance | ■ Corporate Governance | |||
The Nippon Express Group Corporate Philosophy | 24 | Medium-Term Business Plan Progress | 50 | Governance | |
01 | The Nippon Express Group Corporate Message | 25 | The Nippon Express Group Business Plan 2023 | 59 | Stakeholder Engagement |
02 | The Nippon Express Group Approach to ESG Management | ~"Dynamic Growth"~ | |||
04 | Nippon Express and the Logistics Markets of Japan and the World | 28 | Business Growth Strategy | ■ Business Segment Information | |
05 | Competitive Advantages, Risks, and Opportunities | 30 | Financial and Corporate Planning | 63 | Results by Reportable Segment |
32 | Capital and Dividend Policy | ||||
■ Nippon Express ESG | 34 | Financial and Non-Financial Highlights | ■ Financial Information | ||
06 | Nippon Express and Logistics Supporting the Advancement of Society | 70 | 11-Year Financial Summary | ||
08 | The Nippon Express Group Value Creation Engine | ■ Materiality | 72 | 11-YearNon-Financial Summary | |
10 | The Nippon Express Group Value Creation Engine | 36 | Identifying Materialities | 74 | Management Discussion and Analysis |
~Solving Social Issues Through Logistics~ | 38 | The Nippon Express Group Creates New Value | 76 | External Evaluations | |
12 | Nippon Express Group Value Creation | 40 | Pursuing Business Digitalization and DX | 78 | Global Network |
14 | Value Creation Process | 42 | Improving Quality and Creating New Value | 79 | Company Information/Share Information |
44 | Addressing Climate Change | ||||
■ Top message | 46 | Building a Sustainable and Resilient Logistics Infrastructure | |||
16 | Message From Top Management to All Our Stakeholders | 48 | Improving Employee Engagement |
Editorial Policy | Reference Guidelines and Assurances | Scope of This Report |
Integrated Report 2021 is the second integrated report to | We used the International Integrated Reporting Framework | This integrated report addresses the Nippon Express |
be published by Nippon Express Co., Ltd. In this report, we | of the International Integrated Reporting Council (IIRC) and | Group, including domestic and overseas group |
have reformatted our presentation of ESG management, | the Guidance for Collaborative Value Creation of the Ministry | companies. Certain portions of this report reference |
which is increasingly important as international trends and | of Economy, Trade and Industry (METI). The information | Nippon Express Co., Ltd. on a non-consolidated basis. |
social conditions change dramatically. We have edited this | disclosed in our sustainability report conforms to the Core | |
report from the perspective of how the group creates value | option of the GRI Standards for Sustainability Reporting. | Reporting Period |
through the practice of ESG management and how the | * GRI: Global Reporting Initiative | Fiscal 2020 (April 1, 2020 to March 31, 2021) |
group intends to grow. | An organization that aims to create and promulgate | (Certain information references time frames on or prior to |
We hope this report helps our stakeholders better | international guidelines for sustainability reporting. | fiscal 2019 and subsequent to fiscal 2021) |
understand the Nippon Express Group and our efforts to | The GRI content index is available on our CSR website | |
continue to grow by creating new value through | (https://www.nittsu.co.jp/corporate/csr/). | Publication Date July 2021 |
innovation, while staying true to our unchanging vlaues of | ||
safety, compliance, and quality. | ||
For more detailed information regarding Nippon Express | ||
Group CSR, see our CSR website and CSR Data Book. |
Reference Guidelines
- GRI Standards for Sustainability Reporting (Core option)
- IIRC International Integrated Reporting Framework
- Ministry of the Environment's Environmental Reporting Guidelines (2018 Edition)
- SASB Standards
Caution Regarding Forward-Looking Statements
The forward-looking statements in this report, including the company's future plans, forecasts, and strategies, are based on certain assumptions that the company considered reasonable at the time of disclosure. Actual business performance may differ significantly from forecasts due to future economic conditions and other factors. See Competitive Advantages, Risks and Opportunities on page 5 of this report for the major factors that may cause such differences.
Information Systems
The Integrated Report is a compilation of financial and non-financial information for the purpose of deepening stakeholder understanding of the Group's medium- to long-term value creation.
In addition, non-financial information that complements the Integrated Report is provided in the CSR Data Book, and more detailed information is available on our website.
Integrated Report
Voluntary Disclosures
CSR Data Book | https://www.nittsu.co.jp/corporate/csr/report/ | ||||
Website (CSR Activities) | https://www.nittsu.co.jp/corporate/csr/ | ||||
Legal Disclosures and Timely Disclosures | |||||
Annual Securities Report | https://www.nittsu.co.jp/ir/library/securities/ | ||||
Nippon Express Group | Corporate Governance Report | https://www.nittsu.co.jp/ir/governance/ | |||
Integrated Report 2021 | Year ended March 31, 2021 | ||||
Nippon Express Integrated Report 2021 | 01 |
Prole
Integrated Report 2021 Highlights
The Nippon Express Group Approach to ESG Management
The Nippon Express Group Business Plan 2023 addresses ESG-oriented business management to realize sustainable development and improve corporate value as one initiative in our efforts to implement our Long-Term Vision. The group believes that working to solve social issues through our business activities and contributing to a sustainable society ties to sustainable growth and enhancement of corporate value. This is our view of ESG management.
Meanwhile, we are seeing dramatic changes in international trends and social conditions. We find ourselves in a situation in which we face many environmental and social issues directly, and social systems that affect the entire planet are in a deep crisis. Amid these conditions, society expects corporations to behave more responsibly and offer greater value, and we recognize the increasing importance of ESG management in this respect.
In response to these circumstances, we reconfirmed the direction of Nippon Express Group ESG management in the process of publishing our second integrated report. In this process, we organized our understanding and our stance regarding ESG management, clarifying the Nippon Express Group approach to ESG management, which we describe as follows.
Our unchanging philosophy is to advance society and bring an enriched life to future generations. Based on this philosophy, we contribute to sustainable societies through risk mitigation (environmental and social issues) and new value creation (value demanded by society), aiming for business growth. At the same time, we strive to strengthen corporate governance to achieve these contributions and growth.
The Nippon Express Group Business Plan 2023
April 2019- March 2024 Business Plan | After FY2024 |
Business Growth Strategy
Growth strategy for core businesses
Strategy to enhance domestic businesses in Japan
Efforts to Implement Our Long-Term Vision
Inorganic growth strategy
Reinforcing functions to support challenges
Establishing ESG-oriented business management to realize sustainable development and improve corporate value
Long-Term Vision (2037 Vision)
A logistics company with a strong presence in the global market
Growth Image
5 years from 2018 10 years from 2018 100th anniversary
Sales (Revenue): | Sales (Revenue): | Sales (Revenue): ¥3.5 | |||||
¥2,400 billion | ¥3 trillion | to 4 trillion | |||||
Operating income | Operating income | Operating income | |||||
ratio: 4% | ratio: 5% | ratio: 5+% | |||||
Overseas sales | Overseas sales | Overseas sales ratio: | |||||
ratio: 25% | ratio: 40% | 50% | |||||
ROE 10% | ROE: 10+% | ROE: 10+% |
Japan domestic
Overseas
Revenues | 12,000 |
(Billions of yen) | |
6,000 | ||||
4,281 | ||||
Overseas | Inorganic growth | |||
due to M&A | ||||
Enhanced | 18,000 | |||
17,103 | Japan | domestic | ||
businesses | ||||
18,000 | ||||
2018 | 2023 | 2028 | 2037 |
01Point
The Nippon Express Group Value Creation Engine
The Nippon Express Group creates and offers new value based on our corporate philosophy and an understanding of changing social and customer issues. We clarify our unchanging business creation
02Point process as our value creation engine.
Pivoting Business Models to Meet Society
We provide optimized business solutions to industry and society by building business models tailored not only to individual customers, but also to industries and society as a whole.
03Point
Reconfirming Materialities
We leverage past, present, and future initiatives to reconfirm the materialities (key issues) necessary for Nippon Express to answer the demands of society and to grow as a business.
02 | Nippon Express Integrated Report 2021 | 03 |
Prole
Nippon Express and the Logistics Markets of Japan and the World
Competitive Advantages, Risks, and Opportunities
Domestic and
Overseas
Logistics Markets
The population of Japan is declining, especially in rural areas. We are seeing a particularly large decline in our working-age, which represents the core of consumption. Similarly, the volume of freight forwarding is on a downward trend. Given the declining population and low economic growth prospects, it is difficult to expect future growth in the domestic logistics market.
Nippon Express | We have become the increasing choice of numerous customers due to our ability to |
transport anything, anywhere, using every means of transportation in the best possible | |
Group Strengths | manner. And what has made this possible are the transportation modes, networks, and |
front-line capabilities we have cultivated since our founding. |
At the same time, populations are expected to grow among the emerging economies. Including the advanced economies, the global working-age population should increase gradually. Backed by moderate economic and population growth, international freight volume should continue trending upward.
Diverse Transportation Modes
Customers have a variety of requirements, including cargo size, weight, and urgency. The Nippon Express Group offers a full range of transportation modes, including truck, rail, ship,
Vehicles
(As of March 31, 2021) | |||
Loading and | Warehousing | ||
Construction Vehicles | Space |
Domestic Freight Volumes and Population Trends | World Cargo Volume (Air and Ocean) and Population | |||
Freight volumes | containers | |||
(Thousand tons) | (Population in thousands) | (Million ton-kilometers) | (Thousand TEU) | (Population in millions) |
8,000,000 | 160,000 | 300,000 | 1.400,000 | 9,000 |
250,000 | 1,200,000 | 8,500 | ||
6,000,000 | 120,000 | |||
Average GDP Growth Rate | 200,000 | 1,000,000 | 8,000 | |
4,000,000 | 80,000 | 150,000 | 800,000 | 7,500 |
and air. We provide the most suitable method of transportation for shipments requiring special care, such as pharmaceuticals and perishable foods that require strict temperature control, precision instruments that require vibration control, and art works that require humidity control.
A Global Network
In our more than 80-year history, the Nippon Express Group has built a logistics network covering the entire country of Japan. In 1962, we established our first overseas subsidiary in the U.S., and took steps to expand overseas. Today, we deliver goods to anywhere in the world through the world's largest network, when considering group companies and reliable local partners.
Domestic8,940
Overseas
10,294
Overseas
Warehousing
Space
3.57
million m2
Domestic 2,279 | Non-consolidated |
Overseas 1,322 | 3.40 million m2 |
Forwarding Volume (January to December)
Ocean cargo 660,000 TEU Air cargo 720,000 tons
(TEU: Twenty-foot Equivalent Units, equal to the volume of one twenty-foot shipping container)
2,000,000 | 40,000 | 100,000 | 600,000 | 7,000 | ||||||||||||||||||||||
4.9% | 1.5% | 1.1% | 0.1% | 1.0% | 1.1% | 0.8% | 0.7% | 50,000 | 400,000 | 6,500 | ||||||||||||||||
0 | 0 | |||||||||||||||||||||||||
0 | 0 | 0 | ||||||||||||||||||||||||
1985 1990 1995 2005 2010 2015 2020 2025 2030 2035 | 2015 | 2020 | 2025 | 2030 | (year) | |||||||||||||||||||||
Domestic freight volumes (left axis) | Air (Million ton-kilometers) | Marine (Thousand TEU) | ||||||||
Domestic population (right axis) | Population Trends (Population in millions) | |||||||||
Source: National Institute of Population and Social Security Research (Domestic population) Ministry of | Source: world development indicators databank | |||||||||
Land, Infrastructure, Transport and Tourism White Paper (Domestic freight volumes) World Bank | Figures for 2020 and beyond are estimated based on the CAGR for 2010 to 2017 | |||||||||
Data (Average GDP growth rate for 1985 to 2015) Mitsubishi UFJ Research and Consulting | United Nations Population Division Department of Economic and Social Affairs | |||||||||
(Average GDP growth rate for 2020 and after) Domestic freight volumes for 2020 and beyond are | ||||||||||
estimated based on the CAGR for 2008 to 2015 (0.9%) |
Strong Front-Line Capabilities
How will my precious cargo be handled? This is the single most important question when | Subsidiaries | Overseas Network | ||||||
customers choose a transportation service. The Nippon Express Group transports and stores | 278 | 47 countries/regions | ||||||
cargo in the field, strongly committed to safety, compliance, and quality, and always placing the | ||||||||
314 cities | ||||||||
customer first. At first glance, this approach may seem simplistic and obvious. However, | ||||||||
customers widely varying demands in terms of cargo size, weight, shape, and nature. We must | 733 locations | |||||||
meet every one of these demands, while maintaining strict safety and compliance. We can only | ||||||||
accomplish this task through constant daily training, systems support prompt communications, | Afliates | Employees | ||||||
an autonomous organization capable of identifying and resolving issues in the field, a sense of | 63 | 72,366 | ||||||
ownership on the part of all employees, and a strong shared will on our front lines to find the | Consolidated | |||||||
single best way and to accomplish our mission, no matter what the situation. | ||||||||
Non-consolidated34,766 | ||||||||
We have the expertise and groundwork passed down from our predecessors, and we will | ||||||||
continue pressing forward to strengthen our front-line capabilities. |
World Cargo Volume
(Air and Ocean)
and Population
Location of
Rank Headquarters
The internationalization of the logistics industry is accelerating with economic globalization. The global rankings are dominated by major logistics companies in advanced economies that have established international logistics networks. Driven by the growth of 3PL and international parcel delivery services, cross-border logistics services will merge at an increasing pace.
Provider | Gross Logistics Revenue | Marine (TEU) | Air (Metric tons) |
(Millions of yen)* | |||
Risks and | Risks that may have a significant impact on Nippon Express Group businesses are as |
follows. For more on policies related to risks and opportunities, see our latest Annual | |
Opportunities | Securities Report, as well as Materialities (page 37) for more on sustainability-related |
opportunities and risks. | |
1 | DHL Supply Chain & Global Forwarding | 2,973,339 | 2,862,000 | 1,667,000 | ||||
1 | Kühne + Nagel | 2,694,742 | 4,529,000 | 1,433,000 | ||||
2 | DB Schenker | 2,169,525 | 2,052,000 | 1,094,000 | ||||
2 | DSV Panalpina | 1,909,111 | 2,204,902 | 1,272,405 | ||||
3 | Sinotrans | 1,272,183 | 3,750,000 | 532,300 | ||||
4 | Expeditors | 1,057,122 | 1,012,600 | 926,730 | ||||
5 | Nippon Express | 2,021,762 | 660,152 | 720,115 | ||||
6 | CEVA Logistics | 773,300 | 1,081,000 | 363,000 | ||||
7 | C.H. Robinson | 1,618,705 | 1,200,000 | 225,000 | ||||
8 | Kerry Logistics | 717,602 | 1,019,924 | 493,903 | ||||
8 | UPS Supply Chain Solutions | 1,154,516 | 620,000 | 988,880 | ||||
- Based on the exchange rate as of December 2020 (US$1 = ¥104.50).
Source: Armstrong & Associates, Inc. A&A's Top 25 Global Freight Forwarders List 2020.
Rank reflects overall consideration of total revenues, ocean transportation, and air transportation
Changing Business Environments
Contracting domestic logistics markets
Markets Expanding global logistics markets Declining relative position of Japanese companies
Competition | Oligopolies via overseas mega |
forwarders | |
New entry from different industries | |
Advanced | Digital revolution through AI/IoT, etc. |
Technologies | Rapid business model innovation |
Initiatives for building | |
Social | |
a sustainable society | |
Capital | Market demands for effective use |
Markets | of capital and assets |
Changing labor environment | |
Employees | |
(labor shortages, work style | |
reforms) | |
Opportunities | Risks | |
• Global business expansion | • Lost opportunity due to changes in the | |
markets for the Group's core domestic | ||
businesses | ||
• Greater disparity with foreign mega forwarders | ||
• Growth through M&As | • More severe competition due to entry into | |
logistics by major e-commerce providers | ||
and those from different industries | ||
• Trigger for greater business | • Obsolescence of existing business | |
efciency and solutions to social | models | |
problems | • Loss of competitive advantage | |
• More opportunities to provide | • Greater disparity between foreign | |
companies advancing such initiatives | ||
value to customers | ||
• Lower relative standing on the market | ||
• Greater corporate value | • Stock price decline, increased pressure | |
from the market | ||
• Expectations for industrial | • Shortages of core personnel, major | |
cost increases, relative decline in | ||
reforms | ||
industry appeal | ||
04 | Nippon Express Integrated Report 2021 05 |
Nippon Express ESG
Nippon Express and Logistics Supporting the Advancement of Society
Historical Background
Initiatives of the Nippon Express Group
1872~ Wartime and Postwar Reconstruction
Establishing a nationwide domestic transport network and land, sea, air intermodal transport
Our company was founded as a consolidation of early modern transportation and communications companies, nationalized to ensure the smooth supply of goods during the war. After the war, the company underwent a reorganization, and in 1950, we listed our shares on the stock exchange, transitioning from a nationalized entity to a private entity.
We began as a railway forwarding company handling items from small carriers. From there, we expanded our truck transportation network throughout Japan. We were among the first to form alliances with shipping companies and airlines in Japan and abroad, establishing an intermodal transportation system that combined land, sea, and air transportation in an organic manner.
1960~ | Rapid Economic Growth and |
Manufacturing Industry Globalization | |
Establishing a global supply chain network
As Japan entered a full-scale economic recovery in the 1950s, we launched an international forwarding business in cooperation with Japanese companies expanding overseas. In 1962, we established our first local subsidiary in New York, U.S.A., Nippon Express USA Inc. In the 1970s, Japan's industrial structure shifted to an export-driven economy, while the Asian nations began to emerge, signaling a change in the world situation. In response, we established a policy to strengthen our presence in international transport, solidifying our international transport systems and in 1973, establishing an Asian subsidiary in Singapore, among other measures. Subsequently, we established a firm foothold in the Americas, Europe, and Hong Kong. In the 1990s, we began to expand actively into China, Southeast Asia, and India.
1990~ Growth and Rising Uncertainty in the Service Industry
Maintaining supply chains in Japan and overseas; diversifying our services
At the time of the Great Hanshin-Awaji Earthquake in 1995, we were the only trucking company designated as a public organization under the Basic Act on Disaster Management. In the immediate aftermath, we established a disaster-response headquarters and fulfilled our duties by carrying out emergency transportation of relief supplies and other goods from Japan and overseas in cooperation with relevant government agencies. Since that time, we have endeavored to carry out our mission to support social infrastructure logistics, formulating crisis management regulations and establishing a crisis management committee in preparation for emergencies. In the aftermath of the Great East Japan Earthquake in 2011, we used all available means of transportation by land, sea, and air to cope with the widespread disruption of road and rail networks.
2010~ Environmental and Social Sustainability
Sustainable development of society and business
Global warming and other environmental problems became more prominent in the beginning of the 1990s. As a leading company in the transportation industry--an industry that accounts for 20% of Japan's CO2 emissions, we took the lead in addressing the issue of exhaust gas emissions. We established a dedicated department, and in 1993, we formulated a basic philosophy for global environmental conservation. We pursued environmentally friendly transportation through low pollution vehicles, saving resources used in packaging materials, improving efficiency through joint deliveries, and using modal shifts from truck-based to rail- and ship-based transportation. In addition to environmental conservation activities through our business, we also engaged in resource recycling and ecosystem conservation.
2,500,000
2037 Vision
Major
A logistics company with a strong | ||||||||||||||||
presence in the global market | 2,000,000 | |||||||||||||||
The Nippon Express Group Business Plan 2023 | ||||||||||||||||
~"Dynamic Growth"~ | 1,500,000 | |||||||||||||||
The Nippon Express Group Corporate Strategy 2018 | ||||||||||||||||
New Sekai-Nittsu | ||||||||||||||||
The Nippon Express Group Corporate Strategy 2015 | ||||||||||||||||
Innovation and Moving Forward | 1,000,000 | |||||||||||||||
The Nippon Express Group Corporate Strategy 2012 | ||||||||||||||||
Towards New Growth |
Revenues
* Overseas sales prior to fiscal 1998 have been omitted, since overseas sales accounted for less than 10% of revenues.
1872 | 1880 | 1930 | 1940 | 1950 | 1960 | 1970 |
500,000 | |||||||
Overseas Revenues | 0 | ||||||
1980 | 1990 | 2000 | 2010 | 2013 | 2016 | 2019 | 2020 (FY) |
Major Events and Changes in Japan
1872 Riku-un Moto Kaisha established (predecessor of Nippon Express)
1937 Nippon Express Co., Ltd. established
1957 Nippon Express shares are listed on the stock exchange, marking a fresh start as a purely private company
1959 First use of 300-ton trailers for transportation
1964 Transportation for the Tokyo Olympics, Transported the Venus de Milo 1970 Transportation for the Japan World Exposition in Osaka 1972 Transportation for the Sapporo Winter Olympics
1974 Transported the Mona Lisa
1985 Transportation for the International Exposition in Tsukuba, Japan
1990 Transportation for the The International Garden and Greenery Exposition
1995 | Transported relief supplies and other items as a designated public | 2011 | Transported relief supplies and other items in the wake |
institution in the wake of the Great Hanshin-Awaji Earthquake | of the Great East Japan Earthquake | ||
1997 | Launched recycling transportation business | 2013 | Established Nittsu NEC Logistics, Ltd. |
1999 | Began full-scale operations of internet order deliveries | 2014 | Established Nittsu Panasonic Logistics Co., Ltd. |
2002 | Fleet of low-pollution vehicles exceeds 1,000 vehicles | 2015 | Converted Wanbishi Archives Co., Ltd. to a subsidiary |
2009 | Transported national treasure Asura statue of the Kofukuji Temple | 2017 | Opened Tokyo C-NEX |
2010 | Transferred parcel delivery service business transferred to Japan Post Co., Ltd. | 2018 | Conducted Tsukiji Market relocation work |
andEventsMajor OverseasChanges | 1957 | Began international air freight forwarding | 1962 | Established Nippon Express USA. Inc. | |
consolidation business | 1973 | Established NIPPON EXPRESS (SINGAPORE) PTE., LTD. | |||
1959 | Dispatched first representative to New York | 1977 | Established Nippon Express (Nederland) B.V. | ||
1981 | Established Nippon Express (U.K.) Ltd., and Nippon | ||||
Express (Deutschland) GmbH | |||||
1992 | Overseas offices exceed 200 locations | 2013 | Acquired Italian logistics company Franco Vago S.p.A. as a subsidiary |
1994 | Established Shanghai Express lnternational Co., Ltd. | 2014 | Overseas offices exceed 500 locations |
2001 | Overseas workforce exceeds 10,000 employees | 2015 | Overseas workforce exceeds 20,000 employees |
2006 | Established Nippon Express (St.Petersburg) LLC | 2017 | Opened Kenya and Morocco branches in Africa |
Nippon Express (St. Petersburg) | 2018 | Acquired Italian logistics company Traconf as a subsidiary | |
2007 | Established Nippon Express (India) Private Limited | 2020 | Acquired MD Logistics, LLC and MD Express, LLC, a |
logistics company in the U.S. |
06 | Nippon Express Integrated Report 2021 07 |
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Nippon Express Co. Ltd. published this content on 27 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 04 October 2021 08:13:41 UTC.