Mitsubishi Logisnext has thrown its support behind a tender offer from Japan Industrial Partners (JIP) which has stated its intention to buy all the shares in the company so it can be privatised.

JIP has now entered into an agreement with Mitsubishi Heavy Industries (MHI) to acquire its Mitsubishi Logisnext shares.

Mitsubishi Logisnext, in supporting the offer, states it believes “it is pursuing the best strategic option for the enhancement of corporate value and the interests of the company's current shareholders”.

JIP was founded in 2002 to develop a private equity investment business contributing to reconstructions of Japanese companies.