Distribution company for Sumitomo

Sumitomo Warehouse Co will soon launch a distribution company joint venture in Shanghai in partnership with a local firm that is under the umbrella of the city government. The Japanese firm will take a 70 per cent stake in the venture, which will mostly target Japanese firms that have invested in the region. The joint venture is expected to take on the customs procedures for raw materials imported from Japan, as well as products exported from China via land and sea.