Fuyo General Lease acquires Wako Pallet to boost logistics

Fuyo General Lease (TSE: 8424) announced it would acquire a 51% stake in Wako Pallet, a company specializing in the sale and rental of logistics equipment, to make it a consolidated subsidiary. The remaining 49% will be acquired by the Development Bank of Japan Inc. (DBJ). Through the acquisition, Fuyo seeks to address Japan’s ongoing logistics issues caused by labor shortages and an aging population, and leverage Wako Pallet's logistics business foundation. Fuyo also seeks to create shared value by solving social issues while generating economic value by leveraging the strengths of each entity: Fuyo's finance capabilities and Wako Pallet's logistics expertise. The acquisition is scheduled to close on March 28, 2025.