TOKYO, Aug. 12 Kyodo Japan's next...

TOKYO, Aug. 12 Kyodo

Japan's next to the first largest forwarder Kintetsu World Expres Inc. said Monday it will plant up a distribution unit in Dalian, northeastern China, forward Oct. 1.

The of the present day firm, Dalian Kintetsu Logistics Co will be capitalized at $200000 and possessed 100% by Kintetsu Far East unfolding Co., a Chinese unit confessed wholly by the Kintetsu World Expres group

The recent subsidiary is designed to accord to increasing demand from Japanese companies in the Dalian region for cargo storage, distributive processing and delivering services.

Kintetsu World Expres aims for operating incomes of 13.95 million yen from the novel project in fiscal 2002 ending in March 2003 60 million yen in fiscal 2003 and 123 million yen in fiscal 2004

The company said the establishment of the Chinese unit will not affect its consolidated earnings projections for the present year to March 2003

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