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NYK To Establish Maritime College in the Philippines

September 15, 2005

Nippon Yusen Kaisha (NYK) and the Transnational Diversified Group will establish a maritime college in Canlubang, which is a small city in the suburbs of Manila. This college's primary aim will be to foster highly skilled crew members for ocean vessels. Unlike conventional training facilities, the maritime college will be sanctioned by the Department of Education of the Philippines. The college is expected to open in June 2007, and the school is expected to accept 60 students for its courses in navigation and an additional 60 students for courses in engineering. It will also offer students room and board.

The establishment of this maritime college is planned to take place a little over 130 years since the Mitsubishi Mail Steamship Company, the predecessor of NYK, opened the private Mitsubishi Mercantile Marine School, which later became Tokyo University of Mercantile Marine and today bears the name Tokyo University of Marine Science and Technology.

Since 1989, NYK has employed thousands of crew members that have come through the training center at NYK-Fil Ship Management Inc., an NYK affiliate. With the expectation of an increasing demand for crew members as shipping demand increases, having a resource of capable crew members has become more urgent than ever in order to maintain seafarer quality. Therefore, NYK decided to establish this maritime college, shifting the company's aim from traditional crew training to the development of students into highly skilled crew members.

To develop such crew members, it has become necessary to educate future crew members in their academic years so that these seafarers not only become able to handle issues involving management but also gain practical on-the-spot knowledge that is required on the front lines.

Further, the decision to make this maritime college is part of a project to commemorate the 120th anniversary of NYK's founding, occurring on October 1. Because the Philippines has provided the NYK Group with a large number of highly skilled crew members over the years, it is the hope of NYK that the establishment of this maritime college in the Philippines will help the company continue the trend of manning vessels with seafarers of significant talent.

There are currently 13,000 foreign crew members in the NYK Group and 70 percent of them are Filipino. Therefore, the Philippines is obviously an important base for crew training, and further, this decision to establish a new maritime college in the Philippines supports the expansion of maritime business strategy detailed in "New Horizon 2007," the medium-term management plan for the NYK Group.


--- Brief Overview of the Maritime College ---

--- NYK-Fil Ship Management, Inc. ---
NYK-Fil Ship Management, Inc., is a joint venture between NYK and the Transnational Diversified Group. NYK-Fil is engaged in the business of deploying highly skilled crew members and providing training for them. The number of crew members who have been sent to NYK through NYK-Fil Ship Management, Inc., reached 4,500 in 2004.
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