NYK to Reshuffle Top Management
February 24, 2005
Nippon Yusen Kaisha (NYK), at a meeting of its Board of Directors on February 24, decided upon changes in its lineup of Directors, effective April 1, 2005, and approved a plan for the new lineup of Directors, which will be referred to at the 118th Ordinary General Meeting of Shareholders and the ensuing meeting of the Board of Directors, both scheduled for late June.
1. Directors* to retire on March 31, 2005
| Tsugio Yamada |  |
Scheduled to serve as NYK Advisor upon retirement |
| Koichiro Shoji | |
To continue to serve as Chief Executive Officer, Japan Marine Science Inc. |
Note: Tsugio Yamada and Koichiro Shoji will retire at the expiration of their terms of service.
*These Directors are not regulated by the Commercial Code of Japan.
2. Changes in the lineup of Directors, scheduled for April 1, 2005 (resolved on February 24, 2005)
| [Present post] | [New post] | |
| Yukio Ozawa | Senior Managing Director | Executive Vice President |
| Michio Tamiya | Managing Director | Senior Managing Director |
| Yasushi Yamawaki | Managing Director | Senior Managing Director |
| Tadatoshi Mamiya | Executive Vice President* | Director |
| Koji Usami | Senior Managing Director* | Director |
| Koichi Aoki | Managing Director* | Director |
| Masahiro Aoyama | Director* | Director |
Note: Tadatoshi Mamiya and Koji Usami will resign as Directors with the right to represent NYK, on March 31, 2005.
*Those Directors holding concurrent posts will resign from their post of Director, which is not regulated by the Commercial Code of Japan, on March 31, 2005. Their new post of Director will be regulated by the Commercial Code of Japan.
3. New Directors* to be named on April 1, 2005 (resolved on February 24, 2005)
| (1) Present Post (2) New Post | ||
| Mitsutoshi Nawa | (1) | President, NYK Cruise Co., Ltd. |
| (2) | Director (in charge of Cruise Enterprise Group) | |
| Saburo Yamagata | (1) | President, NYK LOGISTICS (AMERICA) INC. |
| (2) | Director (President, NYK LOGISTICS (AMERICA) INC.) | |
| Takamaru Ishida | (1) | CEO, NYK SHIPMANAGEMENT PTE LTD. |
| (2) | Director (CEO, NYK SHIPMANAGEMENT PTE LTD.) | |
| Toshinori Yamashita | (1) | General Manager, Liner Service Sales Group |
| (2) | Director (President, NYK Line Japan Co., Ltd.) | |
| Hiroshi Hattori | (1) | Chairman, NYK LOGISTICS (CHINA) CO., LTD. |
| (2) | Director (Deputy Chief Representative for China, Chairman, NYK LINE (CHINA) CO.,LTD, NYK LOGISTICS (CHINA) CO., LTD.) | |
| Naoya Tazawa | (1) | General Manager, Human Resources Group |
| (2) | Director (General Manager, Human Resources Group) | |
| Yasuyuki Usui | (1) | General Manager, Container Trade Management Group |
| (2) | Director (General Manager, Container Trade Management Group) | |
| Tadaaki Naito | (1) | General Manager, Petroleum Group |
| (2) | Director (General Manager, Petroleum Group) | |
| Lanny Vaughn | (1) | President, GST CORPORATION |
| (2) | Director (President, GST CORPORATION) | |
*These Directors are not regulated by the Commercial Code of Japan.
4. Changes in the lineup of Directors expected after the 118th Ordinary General Meeting of Shareholders, to be held late in June 2005
- Retiring Directors
Tadatoshi Mamiya, to retire as Executive Vice President and to serve as Director from April 1, 2005 (scheduled to serve as NYK Special Advisor after retirement)
Koji Usami, to retire as Senior Managing Director and serve as Director from April 1, 2005 (scheduled to serve as NYK Advisor after retirement)
Koichi Aoki, to retire as Managing Director and serve as Director from April 1, 2005 (scheduled to serve as NYK Advisor after retirement)
Masahiro Aoyama, to serve as NYK Advisor after retirement
Note: Tadatoshi Mamiya and Koji Usami will resign from their present posts, while Koichi Aoki and Masahiro Aoyama will retire at the expiration of their terms of service.
- Retiring Corporate Auditor
Ryuji Narisada, Corporate Auditor (full-time)
Note: Narisada will retire at the expiration of his term of service.
- New Directors
(On February 24, 2005, nominations of candidates for Director posts were approved. The appointment of Managing Directors is scheduled to be concluded at the meeting of the Board of Directors which will be held after the 118th Ordinary General Meeting of Shareholders.)
[Present post] [New post] Hiroyuki Shimizu Director* Managing Director Motoo Igawa Director* Managing Director Masamichi Morooka Director* Managing Director Susumu Kikuchi Director* Director *These Directors are not regulated by the Commercial Code of Japan, but their new post of Director will be regulated by the Commercial Code of Japan.
- New Corporate Auditor
(On February 24, 2005, the nomination for the post of Auditor was approved.)
[Present post] [New post] Shigeru Shimizu General Manager, General and Legal Affairs Group Corporate Auditor (full-time)