#Japan #Tokyo #logistics solutions #PLUS Logistics #MI Holdings

PLUS Logistics Acquires MI Holdings

In an important development for the logistics sector, PLUS Logistics Corporation (headquarters: Toshima, Tokyo, President: Teruo Wakasa) has announced that it will acquire 82.8% of MI Holdings Corporation (headquarters: Koto, Tokyo, President: Moriaki Inonami) during the board meeting scheduled for September 19, 2025. This acquisition aims to strengthen PLUS Logistics' capabilities in providing customized logistics solutions tailored to meet diverse client needs.

Reasons for Acquisition

PLUS Logistics has committed to addressing various logistics challenges faced by its clients. By procuring necessary resources from within and outside the group, it aims to deliver customized solutions. The mid-term management plan emphasizes the importance of expanding profitability within the logistics division to enhance its overall business portfolio.

MI Holdings, known for its logistics-centered operations, oversees several subsidiaries, such as Mizuiwa Transport Co. and Mizuiwa Corporation. The company specializes in transportation, warehousing, cargo handling, and processing, offering one-stop logistics solutions. With a significant client base including department stores and various retail and apparel companies, MI Holdings stands as a leading logistics provider in the Kansai region.

By incorporating MI Holdings and its five subsidiaries into the PLUS Logistics group, the following benefits are anticipated:

1. Increased Revenue in Logistics: A broader revenue base from MI Holdings' established operations.
2. Strengthening Transportation Capabilities: Enhancing the logistical transport functions through MI Holdings' fleet.
3. Cost Synergies: Generating operational efficiencies through joint utilization of resources.

These strategic goals are expected to contribute to the long-term corporate value enhancement of PLUS Logistics.

Overview of MI Holdings and Subsidiaries

MI Holdings Corporation (Subsidiary)

• - Name: MI Holdings Corporation
• - Location: 2-5-20 Shinn砂, Koto, Tokyo
• - Representative: Moriaki Inonami, President
• - Business: Management of group companies, e-commerce sales
• - Capital: 10 million JPY
• - Established: June 1, 2017
• - Major Shareholders: Moriaki Inonami (73.0%)
• - Recent Financial Performance: 2023: 121 million JPY, 2024: 101 million JPY, 2025: 69 million JPY

Mizuiwa Transport Co. (Subsidiary)

• - Name: Mizuiwa Transport Co.
• - Location: 6-1-6 Izumi, Taisho, Osaka
• - Representative: Moriichi Inonami, President
• - Business: General freight transportation, logistics outsourcing, warehouse management
• - Capital: 60 million JPY
• - Established: June 12, 1951
• - Major Shareholder: MI Holdings Corporation (100%)
• - Recent Financial Performance: 2023: 1,974 million JPY, 2024: 2,054 million JPY, 2025: 2,178 million JPY

Mizuiwa Corporation (Subsidiary)

• - Name: Mizuiwa Corporation
• - Location: 2-5-20 Shinn砂, Koto, Tokyo
• - Representative: Moriichi Inonami, President
• - Business: General freight transportation, logistics outsourcing, warehouse management
• - Capital: 8 million JPY
• - Established: October 2, 2017
• - Major Shareholder: MI Holdings Corporation (100%)
• - Recent Financial Performance: 2023: 585 million JPY, 2024: 552 million JPY, 2025: 427 million JPY

Acquiring Shareholder Details

The acquiring party comprises Mr. Moriaki Inonami and additional individuals, as well as a corporation, with the details kept undisclosed at the request of the sellers. Importantly, there are no existing capital, personnel, or transaction relations between PLUS Logistics and the sellers.

Acquisition Statistics

• - Shares Before Acquisition: 0 shares (0% voting rights)
• - Shares Acquired: 30,340 shares (82.8% voting rights)
• - Acquisition Date: To be finalized on September 30, 2025, with execution planned for October 31, 2025.

About PLUS Logistics Corporation

Founded in 1990, PLUS Logistics Corporation emerged from the logistics division of Plus Corporation, which is well-known for its manufacturing and sales of office furniture and supplies. As a non-asset based logistics design company, it focuses on providing customized logistics solutions that cater to a diverse range of industries and needs. The corporation places a strong emphasis on environmental responsibility through initiatives like the Material Reverse System (MRS), which manages the recycling and utilization of used office furniture. The organization has gained significant traction in catering to various markets, ensuring efficiency and sustainability.

For more information, visit: PLUS Logistics