We are pleased to announce that Yamato Holdings Co., Ltd. (headquartered in Tokyo's Chuo Ward; headed by President Masaki Yamauchi, hereinafter called Yamato Group) and Jingdong Group Co., Ltd. (headquartered in Beijing China; headed by Representative Liu Qiangdong; hereinafter called JD), China's biggest retailer, sealed a basic letter of intent on June 28 with an eye toward a comprehensive alliance that leverages management resources the respective parties have.
JD, which is the biggest retailer in China, has been committed to providing best shopping experience to consumers. To meet this goal, it aims to cooperate with an alliance partner who can build a high-quality and high-performance cold chain logistics system together. Meanwhile, Yamato Group has leveraged its expertise on small-lot refrigerated delivery or brand strength in Japan, thereby expanding cross-border operations between Japan and China, ASEAN, Europe and the U.S. since it launched home delivery services in Shanghai in 2010. Since April 2016, Yamato Global Logistics Japan, a unit of Yamato Holdings, JD Worldwide, the cross-border platform of JD.com, and Frank have entered into a partnership and offered one-stop logistics and marketing services to Japanese companies that enter the Chinese e-commerce market. To expand the transportation business between Japan and China further down the road, it had been considering a partner to lay a home-delivery network in China and secure the selling space for Japanese goods, for instance.
The two parties signed this basic letter of intent with an eye toward forming an extensive and comprehensive alliance that leverages the respective companies' management resources in hope of expanding their cold chain and cross-border business in China.
On July 11, 2017, the two groups signed the basic letter of intent with an eye toward collaboration and comprehensive alliance between the two groups in Beijing, China
The parties will make reasonable efforts and mutually cooperate in order to sign an agreement by the end of September 2017.