MITSUI-SOKO Group and Sony Corporation have concluded agreements pursuant to which Sony Group will accept capital investments from Mitsui-Soko into the logistics business that Sony operates in Japan, Thailand and Malaysia through its subsidiaries, thereby starting a joint venture.
The joint venture will continue to provide distribution services for Sony, as well as cultivate additional business by meeting third-party demand for distribution services.
Through the transaction, Sony is aiming to enhance the quality of distribution services for its electronics businesses and to increase its cost-competitiveness, while Mitsui-Soko is aiming to increase its corporate value by offering new platform-based services.
According to the deal, Sony Group will relocate its logistics operations in Thailand and Malaysia under the umbrella of Sony Supply Chain Solutions (SSCS-J), which currently operates Sony's logistics operations in Japan, as well as internal procurement office (IPO) and customer service (CS) operations.
To achieve this, SSCS-J will acquire all of the shares of Sony Supply Chain Solutions (Thailand), or SSCS-T, a subsidiary of Sony that operates its logistics operations in Thailand. As SSCS-J will establish New Malaysia Company and Sony Supply Chain Solutions (Malaysia), or SSCS-M, a consolidated subsidiary of Sony that operates its logistics operations and IPO operations in Malaysia, will transfer its logistics business to New Malaysia Company.
Meanwhile, after relocating the IPO and CS operations currently in SSCS-J to different organisations within Sony Group, 66 per cent of the shares of SSCS-J, whose sole function at this point will then become running logistics operations, will be transferred from Sony to Mitsui-Soko. As a result, SSCS-J will become a company that operates a logistics joint venture between Mitsui-Soko and Sony.
After the transaction, Sony will hold 34 per cent and Mitsui-Soko will hold 66 per cent of the shares in
SSCS-J.
As consideration for the acquisition of SSCS-T shares by SSCS-J, transfer of the SSCS-M logistics business to New Malaysia Company, and acquisition by Mitsui-Soko of 66 per cent of the shares of SSCS-J, Sony Group will receive a total of about 18 billion yen (Bt4.9 billion) from Mitsui-Soko Group.