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NYK-Hinode Line and NYK Global Bulk to Merge

December 14, 2012
Nippon Yusen Kaisha
NYK-Hinode Line Ltd.
NYK Global Bulk Corporation

On December 13, two key wholly owned subsidiary companies of NYK — NYK-Hinode Line Ltd. (Hinode; head office: Tokyo; president: Sumio Kinoshita) and NYK Global Bulk Corporation (NGB; head office: Tokyo; president: Takashi Abe) — agreed to begin preparations to merge.
 
1.      Background and Intent
 
Hinode has been in business for over a century and transports a variety of cargo, such as plant and heavy equipment, by taking advantage of the company’s advanced maritime know-how and a diversified fleet of top-notch vessels. NGB is one of the world’s largest specialists in Handy bulk carriers.
 
The companies have decided to merge to improve efficiencies and service quality and to make use of the NYK Group’s synergy to grow beyond the bounds of the existing business models for the two companies.
 
2.      Schedule
 
The date of the impending merger will be determined in March 2013, and the integration of businesses is expected to occur from October 2013.
 
Hinode and NGB Company Profiles
         
    NYK-Hinode Line Ltd. NYK Global Bulk Corporation   
  President Sumio Kinoshita Takashi Abe  
  Head Office Chiyoda-ku, Tokyo Chiyoda-ku, Tokyo  
  Paid-In Capital JPY2,100,000,000 (NYK 100%) JPY4,150,000,000 (NYK 100%)  
  Established November 25, 1912 September 16, 1988  
  Number of Employees* 76 52  
  Number of Vessels 48 117  
         
*Employees seconded from NYK are included.
 
Inquiries can be directed as follows:
 
NYK Line, Corporate Communication Group, tel. +81-3-3284-5195
NYK-Hinode Line Ltd., tel. +81-3-5220-5780
NYK Global Bulk Corporation, tel. +81-3-3284-6750
The news on this website is as of the date announced and may change without notice.