JOC Staff | Dec 21, 2012 10:41AM EST
Japan’s Hitachi Transport System Ltd. is expanding into Myanmar.
Hitachi’s wholly owned subsidiary Nisshin Transportation Co. has established the subsidiary in Yangon jointly with Myanmar’s Royal Nay Nan Taw Business Group Co. and Japan’s AIS Co. Nisshin, Royal Nay Nan Taw and AIS hold stakes in the new company of 55 percent, 40 percent and 5 percent, respectively.
In July, competitor Nippon Express Co. set up a representative office in Myanmar.
The moves come after the United States and the European Union have eased their economic sanctions against the country.