Hogan Lovells Advises Neopost on PackCity Parcel Network Joint Venture with Yamato Transport
11 July 2016
TOKYO, July 2016 – Hogan Lovells' Tokyo corporate team advised Paris-listed Neopost Group ("Neopost"), a global leader in mailing, postage, parcel delivery and shipping services, on the formation of a joint venture between its group company Neopost Shipping S.A. and Yamato Transport Co Ltd ("Yamato Transport"), Tokyo-listed and Japan's largest parcel delivery company, to operate an open network of secure automated parcel lockers for the delivery of parcels in Japan. Hogan Lovells provided the full spectrum of legal services and advised on all matters in relation to the joint venture including both international and Japanese law aspects. The transaction was signed on 28 April 2016 and closed on 11 May 2016.
Neopost is a leading global supplier of mailing and delivery equipment and digital communication services provider. With a presence in 31 countries and more than 6,000 employees, Neopost recorded annual sales of €1.2 billion in 2015. The joint venture will be 51% owned by Neopost and 49% by Yamato Transport. After a successful pilot phase which was implemented at the end of last year, it is planning to install 5,000 lockers by 2022 in easily accessible places in Tokyo Metro stations in cooperation with East Japan Railway Company and other locations. The commercial operations of the joint venture commenced on 1 July 2016.
The Hogan Lovells team advising Neopost comprised both international and Japanese qualified lawyers was led by Rika Beppu (Partner, Tokyo), with support from Wataru Kamoto (Partner, Tokyo), Chiyokazu Shindo (Senior Associate, Tokyo) and Kate Mansfield (Associate, Tokyo).
Commenting on the transaction, Rika Beppu said: "We are delighted to assist Neopost to further strengthen its global positioning as a parcel facilitator providing a higher quality and more convenient delivery solutions for its customers. The transaction has showcased our team’s strength in handling complex transactions under tight timeframes."
Commenting on the transaction, Alain Midowski, Neopost Group General Counsel said: "We are extremely pleased to start this exciting new business venture in Japan with our trusted partner, Yamato Transport. Rika and her team provided invaluable support in the formation and negotiation of the joint venture, highly adept at communicating effectively with both parties to bring the deal to a successful close."