Notice of Investment Payment Completion and Service Commencement for New J/V in the Container Shipping Business

April 2, 2018

Kawasaki Kisen Kaisha, Ltd.
Eizo Murakami, President & CEO

Mitsui O.S.K. Lines, Ltd.
Junichiro Ikeda, President & CEO

Nippon Yusen Kabushiki Kaisha
Tadaaki Naito, President

Kawasaki Kisen Kaisha, Ltd., Mitsui O.S.K. Lines, Ltd., and Nippon Yusen Kabushiki Kaisha today announced the completion of payment for investment in their new joint venture in the container shipping business, Ocean Network Express Pte. Ltd. (ONE), which was established in July 2017, with service commencing on April 1, 2018, as follows.

1. Payment of investment
Investee: Ocean Network Express Pte. Ltd. (location: Singapore)
Amount of investment: Total US$3.0 billion
(The following changes have been made to the origin al plan:
- Paid all in cash without any investment in kind.
- Assets intended as in-kind contributions will be transferred at market value in the future.)

Payment completion date: April 2, 2018
Shareholders/Contribution Ratio: Kawasaki Kisen Kaisha, Ltd. 31%, Mitsui O.S.K. Lines, Ltd. 31%, Nippon Yusen Kabushiki Kaisha 38%

2. Outline of services
No. of vessels in service/transport capacity: About 230 vessels / 1.44 million TEUs
Service network: Total 85 services, calling at over 200 ports in 100 countries
For details, please refer to the Ocean Network Service website: https://www.one-line.com/en

Inquiries
Inquiries can be directed to the following representatives:

Kawasaki Kisen Kaisha, Ltd.
Masaya Futakuchi, General Manager, Investor & Public Relations Group
(TEL: +81-3- 3595-5189)

Mitsui O.S.K. Lines, Ltd.
Kentaro Ayai, General Manager, Corporate Communicat ion Division
(TEL: +81-3- 3587-7015)

Nippon Yusen Kabushiki Kaisha
Ushio Koiso, General Manager, Corporate Communicati on Group
(TEL: +81-3-3284-5058)

Kawasaki Kisen Kaisha, Ltd. press release