On October 2, NYK President Takaya Soga addressed the company’s employees in celebration of the 140th anniversary of NYK’s founding. His remarks are excerpted below.

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On October 1 — a company holiday in recognition of our founding — we marked the 140th anniversary of NYK's founding, celebrating a significant milestone in our long history.

NYK has achieved this remarkable history thanks to the efforts of our predecessors, who laid the company's foundations, safeguarded them, and rebuilt the business with an indomitable spirit after losing everything in the war, expanding and stabilizing operations along the way. It is also a result of the passion of all employees supporting the company today. As president, I extend my heartfelt gratitude to everyone who has contributed to our ongoing success.

The enduring DNA of NYK — passed down since its founding — embodies an unwavering sense of mission and pride: a keen ability in every era to discern society’s and people’s evolving needs, coupled with a resolute determination to fulfill them.

Yataro Iwasaki, the founder of Mitsubishi group, recognized the vital role that shipping must play within the national policy of enriching the nation, strengthening the military, and promoting the industry. By regaining control of both coastal shipping service and ocean-going shipping service, which had long been under foreign control, he played an important role in restoring Japan’s maritime independence. Today, as the importance of country’s own shipping is reaffirmed from an economic security perspective, we find that its roots are right here.

Through its various shipping services and logistics operations, NYK has not only supported Japan’s economy and industries but also conveyed peace and culture to the world through its passenger ships. Today, NYK has evolved into a corporate group that contributes to the livelihoods and prosperity of people around the world. The company’s 140 years of history is also one of continually responding to societal needs and embracing challenges.

Let us look back on this journey by dividing it into several eras.

1885–1945: Founding, Expansion, and Loss

The 60 years from the company’s founding to the end of the Pacific War were a period during which NYK established Japan’s independence in shipping, expanded the company’s fleet, and extended routes across the world. However, due to the war, we lost 185 vessels — approximately 85% of our operating vessels — leaving only Hikawa Maru among our large ships of over 10,000 tons. Even more remarkably, 5,312 of our employees lost their lives in service. It was a period in which the company lost of its most important assets, “people” and “ships”, all at once.

1946–1964: Miraculous Reconstruction and a New Beginning

The postwar reconstruction period presented a most significant challenge: rebuilding from nothing. Following the 1951 Treaty of San Francisco, NYK resumed its liner trade service, and riding the wave of Japan’s rapid economic growth, took on the challenge of larger and specialized vessels to transport the country’s booming import and export cargo efficiently. This era saw the birth of large tankers, wood-chip carriers, and ore carriers. In 1964, a government-led consolidation of the shipping industry was carried out to enhance Japan’s international competitiveness in maritime transport, and the present-day NYK was established as one of the world’s leading shipping companies through a merger with Mitsubishi Shipping Co. Ltd.

1965–1984: Development of Vessels’ Specialization and Equipment Industrialization

During this era, container ships, car carriers, and LNG carriers were developed in rapid succession. The liner trade services evolved into a significant industrial sector that involved not only container ships but also required investments in containers as instruments, dedicated container terminals, and auxiliary machinery. We show our respect for the foresight and decisiveness of management at that time, who quickly recognized significant industry changes and responded accordingly — launching Japan’s first container ship, Hakone Maru; introducing car carriers which transport complete vehicles by Roll-on Roll-off; and developing LNG carriers which require advanced safety technologies.

1985–2005: Structural Transformation and the Challenge of Diversification

The sharp appreciation of Japanese yen following the Plaza Accord in 1985 significantly impacted our international competitiveness. To maintain our edge, we promoted the diversification of our seafarers to include more multinational personnel, which inevitably led to the retirement of many Japanese seafarers. The management at that time must have felt heartrending grief as they implemented emergency employment measures. Coincidentally, 1985 marked the 100th anniversary of our founding, we announced "NYK 21" in 1986 as a long-term vision for the 21st century, aiming to sustain shipping operations and develop diverse high-value-added businesses. This vision emphasized transforming into a comprehensive logistics company spanning land, sea, and air. 1985 was also the year when the first Nippon Cargo Airlines (NCA) aircraft flew to San Francisco. Additionally, the reintroduction of the cruise business was realized during this period, laying the foundation for today’s Asuka brand.

2006–2019: Turbulent Environments and Strategic Restructuring

Following rapid environmental fluctuations driven by the rise of China's economy, a construction boom, and the 2008 financial crisis, a period of low growth persisted. However, during this period, we implemented strategic reorganizations that broke the mold, such as integrating NYK Logistics and Yusen Air & Sea Service, and spinning off our liner business to form Ocean Network Express (ONE). These were also significant decisions and bold challenges by our top managements at the time.

2020–Present: Sustainability and the Creation of Future Value

In the wake of the COVID-19 pandemic, we have positioned ESG/sustainability management at the core of our strategy, making decarbonization one of the key pillars of our growth. Backed by a significant improvement in our financial structure, we have implemented new capital policies and fostered a corporate culture that enables 35,000 group employees worldwide to fully exercise their individuality and abilities.
Additionally, we are actively pursuing strategic M&A activities to enhance future corporate value, including consolidating a Nordic specialized CTV company as a subsidiary, establishing NYK Energy Ocean, and acquiring major healthcare logistics company in Europe. While our long-term vision “NYK 21” launched on the occasion of our 100th anniversary, emphasized transforming into a comprehensive global logistics enterprise, our current mid-term management plan aims to "go beyond the scope of a comprehensive global logistics enterprise to co-create value required for the future" and envisions a corporate group that challenges solving societal issues through innovation and solutions.

Looking back at NYK’s history, it is impressive that in every era we have prioritized human potential and technological expertise, continued to invest in growth even during challenging financial times, fostered partnerships to achieve what no single company could accomplish — what we now refer to as “co-creation” — and consistently maintained a strong sense of leadership within the industry. I am convinced that these qualities, to be equal to our mission-driven DNA, constitute the company’s “invisible assets.”

At a recent WBCSD (World Business Council for Sustainable Development) meeting in New York which I attended, the keywords “sustainability,” “uncertainty,” and “resilience” were highlighted. I strongly feel that the essence of a modern company’s strength lies in solving societal challenges as part of its business while continuing to respond flexibly and resiliently amid uncertainty.

Building on the invisible assets cultivated over 140 years, and guided by flexibility and the spirit of embracing new challenges, let us shape the next chapter in the history and future of NYK and the NYK Group.

Finally, I would like to express my deepest gratitude to our shareholders, customers, and all business partners across maritime, financial, and related industries who have supported us throughout these 140 years.