Macroasia, Japan’s Konoike forge partnership » Manila Bulletin Business

Manila Bulletin Philippines

Breaking News from the Nation's leading newspaper

Tempo

Online Newspaper

Showbiz and Celebrity News

Sports News

World News
News Asia

Macroasia, Japan’s Konoike forge partnership

Published

By James A. Loyola

MacroAsia Corporation, the country’s dominant aviation support service provider, and Konoike Transport Co. Ltd. have forged a JP¥4.17-billion (₱1.93-billion) partnership to expand their operations in the Philippines and Japan, respectively.

In a disclosure to the Philippine Stock Exchange, MacroAsia said it signed agreement to acquire a 30 percent stake in Japan Airport Service Co. Ltd. (JASCO) from NKS Holding Co. Ltd., the Tokyo-based subsidiary of Konoike Transport, for JP¥-1.83 billion (₱846.4 million).

Meanwhile, Konoike Transport also acquired a 20 percent stake of MacroAsia’s wholly-owned ground handling subsidiary, MacroAsia Airport Services Corporation (MASCORP) for JP¥2.34 billion (₱1.09 billion).

“Through this partnership, the sustainable growth of MacroAsia in the next 10 years will be reinforced. Japan’s robust growth in local and international travelers will create tremendous demand on airport ground handlers and other aviation support service providers,” MacroAsia said.

Currently, Konoike’s Airport-Division operates in six airports, namely; Narita, Haneda, Kansai, Fukuoka, Itami and Kobe. With the help of MASCORP in addressing the human capital issue, it intends to operate in other airports.

The partnership will provide Konoike Transport the advantage of being able to secure the needed human resources from the Philippines, through MASCORP, to support the expected growth in demand for passenger and ground handling services.

With this expansion in Japan, MASCORP will be able to generate additional revenues for processing and sending technical intern trainees in Japan and at the same time benefit from the management exchange program where the best practices in both countries can be adopted.

On the other hand, the strategic investment of Konoike Transport in MASCORP will also lead to the expansion of MacroAsia’s ground handling businesses in the Philippines and in Japan.

Likewise, MAC’s strategic investment in JASCO will create synergies and build capacities that will allow both units to grow further.

Other opportunities that MacroAsia is looking into are possible joint venture initiatives covering outsourced medical services, temperature-controlled warehouses, warehousing and other logistics services.

Related Posts