NYK and Uyeno Group Form Capital and Business Alliance

To Address Next-Generation Energy Supply in Japan

Jan. 28, 2022

NYK
Uyeno Group Holdings, Ltd.

NYK and Uyeno Group Holdings, Ltd. (hereinafter referred to as the Uyeno Group) have agreed that NYK acquires a 10% stake in Uyeno Transtech Ltd. (hereinafter referred to as the Uyeno Transtech), a domestic tanker operating company in the Uyeno Group.

In response to climate change, various efforts are underway to realize a carbon-neutral society. NYK and the Uyeno Group are promoting low-carbonization and decarbonization while supporting existing energy supply in terms of transportation during this energy transition period.

Both companies recognize that ensuring transportation quality and safety is the most important issue for both companies as the basis for achieving a carbon-neutral society. For that, the two companies are also working on the development of advanced vessels such as autonomous ships, with the aim of reducing the labor burden on seafarers, complementing the operations of seafarers through automation, and maintaining and improving service quality.

The companies also have a common awareness of social issues and have agreed that it would be beneficial to foster cooperation that spans oceangoing shipping and domestic coastal shipping.

In the future, NYK and the Uyeno Group will consider collaboration in building a value chain for next-generation energies such as hydrogen and ammonia in Japan and developing advanced vessels such as autonomous ships and zero-emission fuel vessels.

Akira Kono, senior managing executive officer and chief executive of the Energy Division at NYK Line commented, "At this time, NYK has decided to invest in Uyeno Transtech, which handles the domestic tanker business in the Uyeno Group, a group that has a history of more than 150 years. I believe that this investment in Uyeno Transtech, which is also active in advanced initiatives, will be an opportunity to explore areas where synergies can be expected from a long-term perspective. In the future, while the supply chain in next-generation energy fields such as ammonia and hydrogen are being developed, we will work together to create new value, such as providing services that link oceangoing shipping with domestic coastal shipping."


From left, Hitoshi Nagasawa, president and CEO of NYK; Gen Uyeno, president and chief operating officer of Uyeno Group Holdings, Ltd. * Face masks were removed immediately prior to the photo. Image by NYK Group.

Gen Uyeno, president and chief operating officer of Uyeno Group Holdings, Ltd. commented, "I am pleased to announce that the Uyeno Group has entered into a capital and business alliance with NYK, one of the world's leading shipping companies and a comprehensive logistics group. The Uyeno Group aims to learn from the advanced technological capabilities, experience, and wisdom that NYK has cultivated over many years, especially in advancing efforts to address various issues in the domestic shipping business. I am confident that our alliance will greatly contribute to the realization of accident-free advanced vessels. Furthermore, while energy transformation progresses, NYK and the Uyeno Group will seek to create new value in the new energy field by working with each other in oceangoing shipping and domestic coastal shipping to create a one-stop service for customers."

Overview of each company

NYK
Head Office: Tokyo, Japan
President and CEO: Hitoshi Nagasawa
Website: https://www.nyk.com/english/

Uyeno Group Holdings, Ltd.
Head Office: Kanagawa, Japan
President & COO: Gen Uyeno
Website´╝Ü https://www.uyeno-group.co.jp/english/index.html

Uyeno Transtech Ltd.
Head Office: Kanagawa, Japan
President & COO: Gen Uyeno
Investment Ratio: Uyeno Group 80% Idemitsu Kosan 10% NYK 10%

NYK Group, press release