NYKBRINGING VALUE TO LIFE

Through safe and dependablemonohakobi (transportation), wecontribute to the betterment ofsocieties throughout the world as acomprehensive global logisticsenterprise offering ocean, land andair transportation, together withassociated services.

MONOHAKOBI

By 1904, NYK's total fleet comprisedof 76 ships. Between 1915 and1919 NYK began liner services onthe westbound around-the- world,New York, New Zealand, east coastof South America, Mediterraneanand Europe (Hamburg and Liverpool)trades. In 1929 the distinctive twinred stripes on a white backgroundbecame the official funnel markingfor NYK vessels.

NYK commenced liner services toGulf of Mexico ports in LatinAmerica as well as Scandinavia,Madras and eastbound around-the-word trades between 1934 and1937. The outbreak of the SecondWorld War led to the Japanesegovernment requisitioning most ofthe NYK fleet and by the end ofhostilities only 1 ocean going vesselremained. But by 1964, followingthe merger of NYK and MitsubishiShipping Co, the NYK Group fleetwas some 87 vessels.

In 1971 NYK introduced a fullycontainerised service as a TrioConsortium Member, between NorthEurope and the Far East, with NYK’sM.V Kamakura Maru sailing fromJapan to inaugurate the service.

In 1991 NYK established its LogisticsManagement Division based inLondon with representative officesthroughout Europe. The division isresponsible for the development ofland based logistics activities withinEurope. The areas of activity coveredinclude dealing with customsformalities, warehousing, distribution,plus the wide variety of ancillaryservices required by businessesoperating in the European market.

In parallel with these developmentson the liner and logistics sides of thebusiness, NYK in Europe has, over thelast twenty years, much expanded itsactivities in the operation of carcarriers, bulk carriers, tankers andreefer carriers.

For the shipping parts of NYK’sbusiness in Europe, the replacementof third party agents by wholly ownedNYK agency organisations withinEurope began in 1994, starting in theUK, followed quickly by Benelux,Germany, and certain countries inScandinavia. More recently, NYK hasestablished its own agency companiesin France, Italy and Russia.

In 2007 NYK’s Liner, RORO andLogistics companies in Europemerged to form NYK GroupEurope Ltd.

Looking to the future, NYKplans to continue its stableinvestment policy built uponthese historically soundfoundations.

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OUR BACKGROUND

NYK, (Nippon Yusen Kaisha), was established in 1885 and started operations from1st October that year. From the outset, NYK was Japan's largest shipping company,and by 1896 NYK was operating a fortnightly liner service to/from Europe.

TOGETHER WITH SOCIETY

As a good corporate citizen, wepositively take on the toughissues that challenge oursociety, such as concernsinvolving the preservation of ournatural environment, as we workfor the betterment of the worldthat we inhabit

OUR COMMITMENT TO SUSTAINABILITY

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NYK’s medium term management plan, New Horizon 2010, is built upon the 3 keypillars of Growth, Stability and Environment. NYK continues to pioneer advancedtechnology and embrace world leading environmental standards

Managing our environmental impact

ISO14001 is the internationalspecification for an environmentalmanagement system. NYK isimplementing this certificationthroughout the Group as a means tomonitor operational controls andachieve our environmental targets.

The NYK Cool Earth Project, launchedin April 2008, directs innovation andoperations control to reduce CO2emissions across the Group. Thetargets set are achievable thanks toNYK’s pioneering innovation inenvironmental technology. Recentexamples include solar generation ofship power.

Ensuring safe operations

NYK’s Safety & EnvironmentManagement Committee ensure ship

safety & formulate environmentalprotection programmes. NAV9000 isNYK’s own safety managementsystem which enforces safetystandards higher for our vessels thancurrent industry legislation.

Investing in society

NYK is committed to being aresponsible Corporate Citizen.Through initiatives of staffvolunteering, financial support andcollaboration, NYK has builtrelationships with environmental,educational and charity organisationsthat reflect the Group values.European examples include a twoyear project with a University todevelop marine-themed teachingresources for schoolchildren andsupport for IMARES, a marineresearch centre analysing the effectsof marine litter in the North Sea.

For the last three years NYK has beenincluded as one of the Global 100Most Sustainable Corporations in theWorld. The Global 100 is an annualresearch and ratings projectconducted jointly by InnovestStrategic Value Advisors Inc. andCorporate Knights Inc. Other similarmemberships include the Dow JonesSustainability World Index, and theFTSE4Good Global Index.

Whilst this recognition is encouraging,as a globally responsibletransportation company NYK willstrive to constantly improve ourenvironmental impact.

A GLOBAL LEADER

Whether you’re a manufacturer,a third party logistics provider,a freight forwarder, or a privateindividual shipping your personalgoods overseas, NYK can cover every aspect of yourtransportation needs.

As our customers’ global markets continueto evolve; NYK ensures its services matchthese needs. As part of NYK’s commitmentto our customers, NYK also offers a host ofvalue added services, including delivery todealers, loading, pre-delivery inspection,vehicle storage, trucking, brokerage andcustoms clearance.

NYK provides services that meet theneeds of all our customers by offeringtransportation for all types of vehiclesfrom cars, plant equipment andagricultural equipment to specialist cargosuch as boilers, transformers and yachts.We can also accommodate and loadcertain static cargos onto our versatilevessels. Decks and ramps are engineeredwith strength to handle heavy dutyvehicles. They are capable of carryingcargo up to 200 tonnes in weight and themain deck heights on our Leader classvessels exceed 6.2 metres.

NYK moves around 3 million carsworldwide each year, and the advanceddesign of NYK’s RORO vessels enablesthe loading process to proceed likeclockwork. The new generation of NYKRORO vessels is highly flexible and allowsus to carry up to 6,500 standard cars pervoyage. On many vessels 100% of deckspace is suitable for cars over thestandard height, and as we place greatemphasis on the care of our customers’products, damage prevention is always ahigh priority. Our technical teamscontinually monitor and improve handlingprocedures in ports as well as on boardour vessels.

NYK provides efficient integrated solutionsfor Completely Built Up (CBU) logistics,combining ocean transportation with Pre-Delivery Inspection (PDI) processing andfinal dealer delivery. We provide a singlewindow for handling the entire outboundautomotive industry supply chain, fromvehicle collection at the point ofmanufacture, to final car delivery at thedealers. NYK’s automotive logistics supplychain covers full global procurement.

NYK’s worldwide fleet of purpose-built RORO vessels meets the needs of the high andheavy plant machinery and car industries. We have built a trusted and reliable customerservice dedicated to long term business relationships across every key automotiveproduction region in the world.

OUR INTERNATIONAL ROLL-ON ROLL-OFF FLEET

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TOGETHER WITH OURCUSTOMERS

Through the use of our extensiveskill and expertise and byconsidering each business siteto be of the utmost importance,we always work to create newvalue so that our customers willconsider us a trusted andreliable partner.

Utilising this large scale transportationnetwork, the NYK Group has continued toexpand its shipping capacity, and thenumber of ports of call, in order to furtherincrease the comprehensive strength ofthe NYK Group.

When we work, we want to be near ourcustomer and near our customer’sbusiness – being “on site” or “Gemba”.With over 35 offices across Europe, oursales teams combine their localexpertise with the backing of a globallydedicated carrier.

NYK continues to invest in leadingInformation Technology creating anintegrated worldwide transportmanagement system, offering completeend to end shipment visibility andenabling more accurate and real-time

sharing of information. This, coupled witha streamlined business process, is gearedtowards providing an exemplary andsatisfying experience for our customers.

NYK offers an extensive range ofeCommerce tools to exchange shipmentdata and which further streamline andimprove customer service.

Our software supports the totalshipment process and a suite ofcustomer definable products areavailable via www.nykline.com. Theseprovide visibility within the process andthe ability to closely monitor andmanage your own supply chain. Thecombination of technology andknowledgeable, dedicated and readilyavailable staff affords a top qualitycustomer service product.

NYK’s dedication to improving its servicescontinues with our commitment to safety.NYK has adopted industry leadingnavigation standards across our globalfleet to ensure the safe and dependabledelivery of our customers’ cargo.

Additionally, as a globally dedicatedtransportation provider, the NYK Groupoffers not just a port to port shipment, butfully integrated supply chain managementfor container movements across theworld. NYK prides itself on being a qualitycarrier. For over 120 years we have safelydelivered our customers’ cargo aroundthe world. We’re looking forward to thenext 120.

NYK operates over 100 container ships worldwide offering services linking Europe to Asia,North America, Latin America, Australia and Africa. In addition it operates Transpacificservices as well as services that operate within Asia and most other parts of the world.

OUR OCEAN LINER NETWORK

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NYK PROVIDESCOMPLETE SOLUTIONSFOR MARINE, LAND,AND AIR TRANSPORT

Our skill set and substantialresources portfolio underpin ourability to provide supply chainsolutions that are responsive tocustomer needs and adaptablein the face of change.

Every supply chain profile has uniquecharacteristics that need to be consideredwhen putting together a robust and costeffective solution.

We pride ourselves on our fresh approachand expertise in developing practicalsolutions, which are well executed byskilled people. A dedicated team with thebest mix of people for the job – logisticsanalysts, industry specialists andexperienced operators will take theproject from initial data analysis throughsolution design, planning and resourcing,in close liaison with the client at everystep. Structured project managementensures smooth implementationsdelivered on time. NYK providesinnovative supply chain solutionsresulting in better performance and costsaving for customers.

NYK solutions are tailored according to theindividual requirements of each client, withaccess to information systems,warehousing and multi-modal transportoptions, both in-house and across a

portfolio of strategic partners. We arebuilding upon our establishedinfrastructure, rolling out networks to servesupplier bases in emerging markets tomirror clients’ changing sourcing patterns.

We pride ourselves on our high levels ofintegration into our customers’ processesas the Lead Logistics Partner for manytypes of company, but with specialistexperience in the pharmaceutical, retail,automotive and consumer electronicssectors. Ongoing continuous improvementprogrammes provide a clear focus andincentive for cost reduction and serviceimprovement initiatives. As such, NYK isinvesting in information systems as thekey enabler for flexibility, control andcommunication across today's lengthyand complex supply chains.

We manage cross-border and cross-continent product flows, providing time-sensitive deliveries on an internationalbasis. Global tracking gives visibility,enabling control of the most complexsupply chains. Solutions may involve

complex inter-country movementsbetween production sites, managingproducts with extreme demand peaksand providing solutions to inbound andinternal supply chains in a leanmanufacturing or assembly context.

Using our global reach we can ensuretimely flows of raw materials,components and finished products,regardless of where they are sourced, asthey move through the supply chain.

NYK offers warehousing, distribution and supply chain management services on aninternational basis. We work with manufacturers and retailers across a wide range ofmarket sectors, providing solutions which range from stand alone national distributionoperations to global supply chains.

OUR LOGISTICS SERVICES

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HEADING FOR NEWHORIZONS

As a global enterprise that hasthe utmost respect for diversityin the work place and the spiritof challenge, we emphasise thedevelopment of employeetalents so that all staff memberscan take pride in their work andeventually fulfil their dreams.

We believe that customer satisfaction isimportant. We continually strive toenhance the performance of ourtransportation, both the standard of ourflight operations and our freight servicelevels. Additionally, we believe that wehave a duty to minimize our effect on theenvironment. As such, we operate not onlythe most ecologically friendly fleet, but weare continuing to make the environmentan integrated part of our daily business.We have the first ECO hangar in Narita,which provides an ECO friendlyenvironment for our aircraft maintenance,and also in our training centre weoperate an ECO friendly simulator.

NCA operates an extended network fromEurope to Asia, with Japan as the firstdestination. As well as this, we alsooperate flights to and from Asia andJapan from the USA. We operate a fleetof B747’s-400’s, and are the leadcustomer for the new B747-8’s, withfourteen on order. Our modern fleet(average age around 2 years in 2009)achieves practically 100% on timeperformance. This together withindividual aircraft payload capabilities of110 tonnes and nose-door loading facilityensures NCA's premium service andtypifies the dedication to quality, commonthroughout the whole NYK Group.

NCA was established in 1978 in Japan, pioneering the industry of international cargo aviation. It hasoperated flights from Europe to Japan and Asia for more than 20 years. Safety has always been ourtop priority, and at NCA we ensure that safe operations are always practised. We can proudly statethat in over 30 years of operations there has never been a major accident within NCA.

OUR BRIDGES ACROSS THE SKY

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OUR CORE VALUES

IntegrityBe respectful andconsiderate to yourcustomers and colleagues. Stay warm, cordial,courteous and caring.

InnovationContinually think of new ideas forimprovement, even when conditions appear satisfactory.Remain open tobetterment.

IntensityCarry through with and accomplish yourtasks. Never give up.Overcome challenges.Remain motivated.

We aim to enhance ourcorporate value by beingfinancially responsible and byconducting business activitiesin an open, honest andtransparent fashion.

Global Head OfficeNIPPON YUSEN KAISHA3-2 Marunouchi 2-Chome Chiyoda-ku, Tokyo 100 JapanTel: +81 3 3284 5151 Fax: +81 3 3284 6361

European & UK Head OfficeNYK GROUP EUROPE LTDCityPoint, 1 Ropemaker StreetLondon EC2Y 9NYTel: +44 (0)20 7090 2000 Fax: +44 (0)20 7090 2100

PLEASECONTACT US

04/2009