Nippon Yusen and Yusen Air & Sea Service commence discussions for reorganization and integration of

Nippon Yusen Kabushiki Kaisha (NYK) and Yusen Air & Sea Service Co., Ltd. (YAS) announced that the two companies have agreed to commencing discussions for reorganization and integration of each other logistics businesses. NYK? logistics operations primarily consist of land transportation, warehousing, delivery and ocean freight forwarding services. YAS is centered on air and ocean freight forwarding services.

NYK and YAS, as members of the Nippon Yusen Group, provide total logistics services. However, the two companies have conducted a broad range of discussions in order to meet the needs of global customers for optimized logistics, and to provide top class logistics services. Discussions were held under the mutual recognition that it is essential to drastically explore business strategies beyond the past structure, including reorganization and integration of the logistics businesses within the group.

As a result, the two companies have reached a conclusion that optimization and streamlining of the group businesses and maximizing group synergy by reorganization and integration of each other logistics businesses will contribute to the future growth and to the improvement of corporate value of both companies. The companies have further agreed to proceed with specific discussions toward the realization of the reorganization and the integration.