UPS and Nippon in cargo pact

United Parcel Service of America and Japan's Nippon Cargo Airlines Co will share cargo space on their Japan-United States flights, a Japanese newspaper says.

The two companies would announce the plans in more detail today, Nihon Keizai said.

Nippon Cargo Airlines' largest investors each own a 13.2 per cent stake. They are All Nippon Airways Co, Nippon Yusen K. K. Kawasaki Kisen Kaisha and Mitsui OSK Lines.