Itochu boosts investment in Taiwan Pelican Express
TAIPEI, NNA - Japanese trading giant Itochu Corp. has stepped up its investment in Taiwan Pelican Express Co. to take advantage of growing demand for e-commerce and direct-to-consumer delivery services in the Taiwanese market.
Itochu announced Wednesday the acquisition of additional shares by a wholly owned subsidiary, Itochu Taiwan Corp., to raise its stake in Taiwan Pelican Express from 6.98 percent to 19 percent.
Itochu aims to provide a wider range of e-commerce services for local businesses through the home delivery networks of Taiwan Pelican Express, which delivers about 40 million items a year.
Relevant new services planned to begin by the end of next March include helping customers create websites and offering support related to logistics and delivery, according to Itochu.
An Itochu spokesperson said it will consider raising its stake to more than 20 percent in the future -- a ratio enabling it to have a greater say in Taiwan Pelican Express' entire business. (NNA/Kyodo)