June 30, 2008

NYK announced that it dissolved its advisory board on June 30, 2008. The board was established in June 2006 to act as a consultative body for the company's Executive Committee for Strategic Management, and consisted of six outside experts who offered objective and varied advice about the business environment and management issues facing NYK.

The advisory board, which helped the company enhance its management transparency, has finished its function upon the introduction of two directors from outside the company to NYK's board of directors. The new system adding outside directors to NYK's board was approved on June 24, 2008, at the company's annual shareholders' meeting.