NYK, a Japanese shipping company, has purchased a 25% stake in an automotive terminal located in Subang Regency, West Java, the Republic of Indonesia.
The company bought the state in PT Patimban International Car Terminal (PICT) from Toyota Tsucho Corporation.
PICT, located 120 km east of Jakarta, can currently handle 220,000 vehicles annually and is continuously being expanded by ODA, which will be able to handle approximately 600,000 units per year after its completion in July 2025.
"In addition, traffic congestion on the roads connecting the port and the Eastern Industrial Park in the eastern part of Jakarta, where many Japanese companies are located, has caused delays in importing and exporting auto parts and finished vehicles," NYK said.
"The full-scale operation of the port of Patimban is expected to solve these problems," the Japanese shipping firm added.
After selling a stake to NYK, Toyota Tsucho still owns 34% of the shares in the terminal, making them the largest shareholder in PICT.
Meanwhile, Toyofjui Shipping holds a 26% stake, and Kamigumi Co owns 15%, among other shareholders.
On August 21, Toyota Tsusho announced that it had transferred 66% of the shares of PT to three companies: Toyofuji Shipping Co., LTD., Nippon Yusen Kabushiki Kaisha (NYK), and Kamigumi Co., Ltd.
The Patimban International Port consists of an automobile terminal and a container terminal.
Toyota Tsusho noted that under the initiative of the Indonesian government, construction has been carried out in stages since 2018 as part of the Official Development Assistance (ODA) loan agreement.
Following the partial completion of the facility, PICT, established by the Toyota Tsusho Group, began operations in December 2021 and currently has an annual handling capacity of 400,000 units.
"Through this transfer of shares, PICT's operational structure will be strengthened by the participation of three companies with abundant experience in automobile terminal operations in Japan and overseas, and Toyota Tsusho will aim to realize further growth of PICT and an automobile terminal with international competitiveness," Toyota Tsusho said.
