MOL Decides to Merge Two Group Companies for Ferry and Coastal RORO Vessel Business

Japan's Largest Ferry and Coastal RORO Vessel Company Launch

Tokyo - February 13, 2023

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced its decision to integrate two wholly owned ferry and coastal RORO vessel operating companies, MOL Ferry Co., Ltd. (MOL Ferry; President: Naotoshi Omoto; Headquarters: Chiyoda-ku, Tokyo) and Ferry Sunflower Limited (Ferry Sunflower; President: Mitsujiro Akasaka; Head Office: Oita-shi, Oita Prefecture). On October 1,2023, the companies will be merged, with MOL Ferry as the surviving company. As a result of the merger, the new company will be Japan's largest ferry and coastal RORO vessel company.

MOL will establish a new "Headquarters of Wellbeing & Lifestyle Business" in April,2023, bringing together its ferry, coastal RORO vessel, real estate, cruise ship, and other businesses, and making them one of pillars of MOL business. The company intends to achieve further growth by integrating these two companies, which play a core role in the MOL Group's ferry business.

Background and Objectives of Integration

1. Aiming to flexibly meet changes in customer transportation needs and further improve transport services by concentrating the management resources of the group companies, with an eye toward a decarbonized society, digital transformation (DX), and solutions to logistics and social issues stemming from Japan's declining birthrate and aging society, as typified by the shortage of truck drivers.

2. Accelerating the penetration of the "Casual Cruise Concept" (Note) through improved customer services and stronger marketing in the digital field, in light of changing passenger demand due to diversifying lifestyles and values. The MOL Group will contribute to improving the well-being of its customers by offering a comfortable cruise where passengers can feel "bonding," "peace of mind," and "confidence" with their families, friends, pets, colleagues, and acquaintances.

3. The MOL Group will further strengthen its ties with local governments and communities in ferry departure and arrival areas, and contribute to regional revitalization and local economies.

Ferry Sunflower-operated Sunflower Kurenai.   Image by MOL.

MOL Ferry-operated Sunflower Furano.   Image by MOL.

(Note) The Casual Cruise Concept is the basic concept of the MOL Group's ferry business, enabling customers to enjoy cruising as a high-quality means of travel by using regular service routes.

Outline of new company (planned)
Company name: TBD (will be announced as soon as it is determined)
Address: 1-18-13 Soto-kanda, Chiyoda-ku, Tokyo
Offices: Sapporo, Tomakomai, Oarai, Osaka, Kobe, Fukuoka, Kanda, Oita, Beppu, Kumamoto, Miyazaki, Shibushi, Kagoshima
Shareholder: MOL 100%
Business: General passenger liner service, coastal shipping, freight forwarding, travel agency, etc.
Start date: October 1, 2023

Outline of MOL Ferry Co., Ltd.
Address: 1-18-13 Soto-kanda, Chiyoda-ku, Tokyo
Representative: President Naotoshi Omoto
Number of vessels in operation: 4 ferries, 5 coastal RoRo vessels
Paid-in capital: ¥1,577.4 million (as of February 1, 2023)
Established: March 2001

Outline of Ferry Sunflower Limited
Address: 5-3-1 Ikushi, Oita-shi, Oita Prefecture
Representative: President Mitsujiro Akasaka
Business General passenger liner service, others
Number of vessels in operation: 6 ferries
Paid-in capital: ¥100 million (as of February 1, 2023)
Established: October 2011

Mitsui O.S.K. Lines, Ltd. press release