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Big News in 2002 for NYK Group

December 17, 2002

• Tie-up and joint venture with COSCO group
  1. Agreement reached on wide-ranging partnership with the COSCO group in the sphere of logistics (April).
  2. NYKCOS Car Carrier was established as a joint venture with COSCO Shipping to participate in marine transport of finished cars to and from Chinese ports (October).
• Integration of group activities
  1. Tokyo Senpaku Kaisha, Ltd. (TSK) was made a wholly-owned subsidiary of NYK (August) and absorbed NYK's intra-Asian container services (October).
  2. NYK's handy bulker division was incorporated into NYK Global Bulk Corporation (October), which had earlier taken the place of Toho Shipping Co., Ltd.
• NYK took over Ceres Terminals of the U.S. (October)
• Project "C" ended in success (September) - a company-wide campaign to improve profitability (Phase I) and create a business model for the next five to 10 years (Phase II).
  In addition, Group Project "C," aimed at improving group members' profitability, was launched (March).
• NYK subsidiary Global Ocean Development Inc. was selected by the Japan Marine Science & Technology Center to operate and manage the deep-sea drilling vessel CHIKYU (Earth) (April).
• U.S. West Coast ports were shut down for 12 days due to a labor dispute related to contract negotiations (September-October).
• Yusen Air & Sea Service Co., Ltd. reached agreement with Hitachi Transport System, Ltd. to form a strategic alliance (December).

• Executive Officer System was introduced (April).
  The aim is to improve corporate governance and streamline business operation.
• Measures to strengthen compliance with various laws and regulations were implemented (September-November).
  A related check of group firms was also undertaken, and such measures as regular meetings of the compliance committee were adopted.
• A special courses were started at the Shanghai Maritime University to independently train Chinese seamen to work for NYK (October).
• NYK obtained ISO 14001 certification for its fleet, including chartered vessels, for the first time in the world (March).
• A new NYK Kansai (West Japan) Branch was set up at the Kobe Container Terminal on Rokko Island through unifying the existing Osaka and Kobe branches (April).
• The on-site day nursery "Yusen Child Care Marunouchi Hoikushitsu" was opened (April).
• "Social & Environmental Report 2002" was published (August).
• An "NYK-Week" was held, during 19 senior staff members of overseas subsidiaries were invited to Japan for training and to take part in events aimed at deepening mutual friendship (November).
• Mrs. Fune Isono was picked as NYK's image character (October).