MOL to Merge 3 Group Companies to Form a Technical Hub that puts Maritime Industry on Path to Achieve Decarbonization

Tokyo - October 04, 2024

Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that effective April 1, 2025, it will merge three group subsidiaries responsible for maritime technology and engineering: MOL Marine & Engineering Co., Ltd. (MOLMEC; President and CEO: Kazuhiko Kikuchi; Head Office: Minato-ku, Tokyo), MOL Ocean Expert Co., Ltd. (MOLOX; President: Shingo Takiguchi, Head Office: Minato-ku, Tokyo), and MOL ShipTech Inc. (MOLST; President: Yuji Anada; Head Office: Minato-ku, Tokyo).

The proposal is an absorption merger, with MOLMEC as the surviving company. The official name of the new company will be announced in March 2025.


Image by MOL.

The new company, as a professional technical group, will offer seamless services ranging from maritime and new shipbuilding consulting, maritime human resources training, and crew support to operational support and maintenance. In all of these fields, the company will focus on the use of digital technology to support MOL's growing businesses, including the wind power generation business, a key area targeted for investment and expansion. Through its wide-ranging lineup of services, the new company will contribute to the realization of a carbon-neutral maritime industry.

Outline of the merger
Effective date: April 1, 2025
Method: Absorption with MOL Marine & Engineering as the surviving company and MOL Ocean Expert and MOL Ship Tech as the dissolving companies
Other: Since this is a merger between wholly owned subsidiaries of the MOL Group, no new shares will be issued and no funds will be exchanged as a result of the merger.

Outline of new company after the merger
Location: 2-1-1 Toranomon, Minato-ku, Tokyo
Shareholder: MOL 100%
Commencement of operations: April 1, 2025
Company name and representative to be announced in March 2025

Outline of companies involved in the merger

MOL Marine & Engineering Co., Ltd.
Location: 2-1-1 Toranomon, Minato-ku, Tokyo
Representative: President and CEO: Kazuhiko Kikuchi
Shareholder: MOL 100%
Business: Maritime consulting service, cable-laying ship business, maritime engineering training, offshore vessel training, offshore wind power business, on-site business
Paid-in capital: ¥100 million
Established: 1988
Website: https://www.molmec.com/en/

MOL Ocean Expert Co., Ltd.
Location: 2-1-1 Toranomon, Minato-ku, Tokyo
Representative: President: Shingo Takiguchi
Shareholder: MOL 100%
Business: Manning agency, marine engineer dispatching service, marine agency
Paid-in capital: ¥100 million
Established: 1937
Website: https://www.mol.co.jp/corporate/group/molox/

MOL Ship Tech Inc.
Location: 2-1-1 Toranomon, Minato-ku, Tokyo
Representative: President: Yuji Anada
Shareholder: MOL 100%
Business: New shipbuilding supervision service, design consulting service
Paid-in capital: ¥50 million
Established: 1974
Website: https://www.molst.co.jp/en/

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