Japan’s Nippon Express Is Looking to Make Acquisitions in India
- Delivery provider is seeking to boost sales from overseas
- Ready to take on debt to buy businesses in fast-growing market
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Nippon Express Holdings Inc. is seeking companies to buy in India to speed up its growth in the fast-growing economy, an executive in charge of overseas operations at Japan’s second-largest parcel company said.
“Our thinking is that we’re willing to take on debt to make this happen,” Tadahiro Furue, a senior managing executive officer, said in an interview. Nippon Express would be willing to sacrifice some target to maintain strong balance sheet including achieving a 10% return on invested capital, he said, adding that it wasn’t a key consideration.