Nippon Yusen Kabushiki Kaisha (NYK; head office: Chiyoda-ku, Tokyo; president: Yasumi Kudo) and Tokyo Senpaku Kaisha Ltd. (TSK; head office: Chiyoda-ku, Tokyo; president: Takatake Naraoka), a wholly owned subsidiary of NYK, having had discussions about the details of the transfer of business, as we announced in “NYK and TSK Sign Letter of Intent on Intra-Asia Liner Business” on July 29, 2010, have today executed a formal instrument of agreement to transfer to NYK from November 1, 2010, the entire liner business operated by TSK. The execution of this formal agreement will be the key step to facilitating preparations for the new organizational framework to be launched in November this year.
TSK has been operating an intra-Asia liner trade for many years as a result of the great support of its customers and vendors, and is well positioned to ride out the rapid changes in the economic business environment. As this trade is incorporated into NYK liner services and all trades begin to operate in unison, the NYK Group will be able to further pursue efficient global liner operations and ensure that the NYK Group remains competitive in the current market environment by offering premium service levels to new and existing customers.
NYK will be offering the services that have continuously been provided by TSK, so for the moment, there will be no impact on day-to-day service arrangements and levels, but we will be making adjustments in due course, and those will be announced accordingly.
As a global comprehensive logistics company, we will aim to achieve further expansion and development in our container business by operating all trades together through this transfer and thus enhancing our services further.
Corporate Communication Group, NYK Line: Tel. +81-3-3284-5188
Business Group, T.S.K. Line: Tel. +81-3-6212-4730