Stock purchase of Singaporean logistics company -Enhancement of Asian business activities-

Jan. 25, 2010

On December 28, 2009, Mitsubishi Logistics Singapore Pte. Ltd. (Managing Director: Akihide Okuda, hereafter referred to as MLS), locally incorporated and fully owned by Mitsubishi Logistics Corporation, purchased all stocks and finalized the acquisition of Pioneer Express International Pte Ltd (hereafter referred to as PEI) as a wholly owned subsidiary.
Founded in 1993 as a logistics company, PEI has expertise in air cargo transportation of pharmaceutical products and precision instruments. The acquisition of PEI provides Mitsubishi Logistics with business expansion in Singapore and contributes to enhance their branch network for air cargo business as well as CATA* License (Class A) which won by China-based subsidiary last year.
This reinforcement of Mitsubishi Logistics's presence in Singapore is a part of their long-term business plan which aims to expand logistics business in Japan and overseas.
Mitsubishi Logistics continues to actively enhance their presence and expand our business base in the Asian region.

PEI Corporate Profile

Name of Company	PIONEER EXPRESS INTERNATIONAL PTE LTD
Location of Headquarters	No. 9 Airline Road, #02-21/03-21 Cargo Agents Building D, Box 900, Changi Airfreight Centre, Singapore 819827
Date of Establishment	1993
Settlement Term	April
Type of Businesses	Air and marine cargo transport and related activities
Capital	500 thousand SGD (approx. 32 million yen)
Revenue	Approximately 350 million yen
Number of Employees	25