© 2016. NYK Group. All rights reserved.

Full Acquisition of Yusen Logistics Co., Ltd.

October 31, 2017

© 2016. NYK Group. All rights reserved.

Overview

  • Nippon Yusen's full acquisition of Yusen Logistics (TSE Ticker:9370) which is a consolidated subsidiary of Nippon Yusen

    Transaction Structure

  • Tender offer for the shares of Yusen Logistics (deducting the shares held by Nippon Yusen) in cash

  • Transaction Value: App. JPY 25.6Bn(※)(JPY1,500 per share)

    Before Transaction

    Tender Offer After Transaction

    Cash

    Nippon Yusen

    Minority Shareholders

    Nippon Yusen

    Minority Shareholders

    Nippon Yusen

    59.6%

    40.4%

    Shares of Yusen Logistics

    100.0%

    Yusen Logistics

    Yusen Logistics

    Yusen Logistics

    Schedule

  • Tender Offer Period: From Nov. 1st,2017 to Dec. 14th,2017

  • Settlement Commencement Date: Dec. 21st,2017

  • Estimated Closing Date: Late-March, 2018 at the latest

© 2016. NYK Group. All rights reserved.

  • Transaction Value = Number of Shares to be Purchased (17,033,918 shares) × the Tender Offer Price (JPY1,500 per share) 2

    NYK Group place emphasis on the following strategies in order to focus on minimizing impact of market volatility and improving competitiveness ahead of its competitors.

    1 Move toward Asset Light Business Model

    Reduce owned and long-term chartered fleets.

    Expand short-term chartered vessels and forwarding business.

    2

    Promote Container Transport Business Strategies

    3

    Expand beyond Traditional Shipping

    Secure Stable Freight Rate Business

    Pursue optimum business portfolio for container transport.

    • Core Assets: Ensure success of the container shipping business integration and establishment of ONE.

    • Non-Asset: Expand forwarding business.

      Facilitate differentiation through NYK Group's technological capabilities.

    • e.g. automobile-related logistics, project cargos, etc.

      © 2016. NYK Group. All rights reserved. 3

      NYK Group set logistics business as its core business and will engage in various measures targeted to strengthen its business foundation.

      Lo gist ics Bu sin ess

      Operating Environment

      Changes in customers' needs
      • Globalization

      • Supply chain complication/diversification

      • Increase in demand for one-stop services

Actions

E nhance total logistics business focusing on growth industries and emerging markets. Strengthen sales platform through further business collaboration. Seek strategic investment oppor tunities including mergers and acquisitions for the purpose of further expanding business opportunities. Fully utilize the Group's management resources suppor ted by the pillars of people, assets, IT, and capital to strengthen sales capabilities.

© 2016. NYK Group. All rights reserved. 4

Nippon Yusen KK published this content on 31 October 2017 and is solely responsible for the information contained herein.
Distributed by Public, unedited and unaltered, on 31 October 2017 03:27:06 UTC.

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