2 NYK Group Firms Merged
October 2, 2003
Hikawa Shouji Kaisha Ltd. and Asahi Mechatronic Corp., both members of the NYK group, were merged on October 1, 2003 under the new name of NYK Trading Corporation as part of the business reorganization of the group.
The merger, aimed at "reinforcing trading-house functions within the NYK Group," has given birth to a multi-function, high-technology trading company with an annual turnover of more than Yen 80 billion and total assets worth more than Yen 20 billion. Moreover, the new company will seek to further increase its corporate value and shareholders' worth by pushing ahead with the following policies:
- Strengthening of cost competitiveness
The efficiency of buying/selling operations and administrative control will be further enhanced, and the integration of business and technology further promoted through the combination of the previous two companies' businesses and human resources. By so doing, the new company will further improve its management efficiency and strengthen cost competitiveness.
- Improvement of customer service
The new company will provide its customers with a wide range of highly reliable high-grade trading-house services by establishing a cost-competitive business management system through the merger.
| (1) Date of merger | : | October 1, 2003 |
| (2) Name | : | NYK Trading Corporation |
| (3) Capital | : | Yen 1,246 million |
| (4) Location of the head office | : | Yusen Shoji Bldg., 3-5, Shibakoen 1-chome, Minato-ku, Tokyo |
| (5) Employees | : | 175 |
| (6) President | : | Suminaka Shimomura (president of the defunct Hikawa Marine Corporation) |