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NYK Report 2014 Nippon Yusen Kabushiki Kaisha Nippon Yusen NYK Report 2014 Taking a Step Forward Nippon Yusen Kabushiki Kaisha NYK Report 2014 Financial, Social, and Environmental Performance 2014 How Are We Stepping Up? We Are Advancing Our Strategies to the Next Stage. Combining our traditional shipping business with value-added strategies under Stage 2 The NYK Group has prepared a new five-year medium- term management plan, ‘More Than Shipping 2018’, covering the period from April 2014 through March 2019. While building on the key strategies of the previ- ous medium-term management plan, ‘More Than Shipping 2013’, we will redouble efforts to achieve differentiation through the technological capabilities and professional skills we have honed. Nippon Yusen Kabushiki Kaisha NYK Report 2014 New Medium-Term Management Plan More Than Shipping 2018 ROE 12 % 15.0 10.0 5.0 More Than Shipping 2013 ROE 4.8% 0 (FY) 2012 2013 2014 2016 2018 (plan) (plan) (plan) An FPSO unit producing crude oil off Brazil Nippon Yusen Kabushiki Kaisha NYK Report 2014 01 How Are We Stepping Up? We Are Leveraging Our Technologies. Achieving differentiation by honing technological capabilities and professional skills Japan’s first car carrier with capacity for 7,000 vehicles, Aries Leader was completed in May 2014. Car carriers incorporate a variety of energy-saving technology. Given recent bunker oil price hikes, im- proved fuel efficiency not only reduces CO2 emissions but also contributes to earnings by enabling significant cost reductions. Accordingly, our new medium-term management plan calls for a 15% improvement in fuel efficiency versus the fiscal 2010 level. 02 Nippon Yusen Kabushiki Kaisha NYK Report 2014 How Are We Stepping Up? We Are Leveraging Our Technologies. Energy-Saving Technologies for Car Carriers Energy-Saving Benefits of Next-Generation with a Capacity for 7,000 Vehicles Car Carriers Energy-saving technologies Enlarging, redesigning vessels Air-lubrication system Latest low-friction hull coating Hybrid turbocharger – % Inverter control of cooling water pump (per finished30 vehicle transported compared Water-emulsion compatible boiler with existing vessels) Performance-monitoring system Nippon Yusen Kabushiki Kaisha NYK Report 2014 03 How Are We Stepping Up? We Are Pursuing Innovation. Mobilising all divisions’ technological capabilities and professional skills, seeking differentiation tirelessly Underpinned by an innovative corporate culture that has been evolving and strengthening since our founda- tion, we have accumulated and honed a broad array of technological capabilities and professional skills. These capabilities and skills enable us to reduce costs by almost ¥20 billion a year. Although the offshore and LNG transport businesses are challenging to enter, we have established a presence in both businesses thanks to our reliable ship-handling technologies and skills. Going forward, we will mobilise the technological capabilities and professional skills of all divisions to differentiate ourselves even further. 04 Nippon Yusen Kabushiki Kaisha NYK Report 2014 MTI Technology JMS Division Creative Solutions for Clients PROJECT and Business Partners Marine OWNER* Division Commercial / 3M’s Elimination Corporate Divisions Discover opportunities for commercialisation and practical use of innovative ideas Environment NBS * A commercial or corporate division that leads a project MTI: Monohakobi Technology Institute An NYK Group company that conducts technological R&D and surveys Intellectual in relation to shipping and logistics Property NBS: NYK Business Systems Co., Ltd. An NYK Group company that offers planning, development, operation, and sale of information processing systems, software, and information and communication systems JMS: Japan Marine Science Inc. An NYK Group company that provides marine consulting and other services Nippon Yusen Kabushiki Kaisha NYK Report 2014 05 ContentsNYK Report 2014 Financial, Social, and Environmental Performance We would particularly like to share information presented on the following pages. More Than Shipping 2018 Page 10: Overriding Management Policy Page 12: To Our Stakeholders Page 32: Fiscal 2014 – Fiscal 2018 New Medium-Term Management Plan In this section, we explain the type of business The Group is taking additional steps to combine We review the previous medium-term manage- management we aspire to. its traditional shipping business with value-added ment plan and explain the key points of the new strategies. President Kudo explains the busi- medium-term management plan, which began ness management tasks that the management from April 2014. team is focusing on and maps out the way to further growth. Page 42: The NYK Group’s Evolution Page 64: Growth Strategies by Business Page 78: Corporate Governance by Numbers The NYK Group pursues CSR initiatives as an The executives responsible for respective busi- We provide an overview of our corporate gover- important facet of differentiation. Here, we feature nesses explain the growth strategies that they nance system—the foundation supporting one of our strengths—the disclosure of environ- have prepared for their business areas based growth strategies—and explain risk manage- ment, society, and governance (ESG) data. on the new medium-term management plan. ment methods and compliance initiatives. Editorial Policy for NYK Report 2014 The NYK Report 2014 is an integrated report that combines financial information, such as business Website results, reviews of operations, and future strate- General business activities gies, with general non-financial information about Corporate website corporate social responsibility (CSR) activities http://www.nyk.com/english/ and other initiatives. This report aims to further understanding among as many stakeholders as Financial information Non-financial information possible that the NYK Group not only pursues Website section: Investor Relations Website section: CSR earnings but also tackles a wide range of issues http://www.nyk.com/english/ir/ http://www.nyk.com/english/csr/ relating to the environment, society, and gover- nance to contribute to the realisation of a sustain- NYK Report (PDF (full version)) able society. Further, please use this report in conjunction with the NYK Group’s website, which includes information that is more comprehensive and detailed. Publications This report has been edited with reference to NYK Report (Booklet (digest version)) version 1.0 of the International Integrated Report- IR Fact Book ing Framework, which the International Integrated Reporting Council issued in December 2013. 06 NIPPONNippon Yusen YUSEN Kabushiki KABUSHIKI Kaisha KAISHA NYK ReportNYK Report 2014 2014 Our Message Our Message Business Strategy To Our Stakeholders Long-Term Strategies by Business 08 The NYK Group’s Business Areas 62 Focus: Offshore Business Grows Significantly 10 Overriding Management Policy under Previous Management Plan 12 To Our Stakeholders 64 Global Logistics Business Our Course 20 An Interview with the Chief Financial Officer 69 Air Cargo Transportation Segment 70 Dry Bulk Carrier Division Our Course 72 Tanker Division Business Management Strategy 74 Car Carrier Division 24 Pioneering Legacy 76 Cruises Segment 26 10-Year Summary against Backdrop of Management Plans Management System Unique NYK 28 Global Presence The NYK Group’s Business Management System 30 Business Conditions and 78 Corporate Governance Business Management Tasks 84 Directors, Auditors, and Corporate Officers 32 Fiscal 2014 – Fiscal 2018 New Medium-Term 86 Independent Directors and Auditors Management Plan 36 Outside Directors Identify the NYK Group’s Performance Information Business Strategy Achievements and Tasks Financial and Non-Financial Review Unique NYK 88 Management’s Discussion and Analysis Tireless Commitment and Evolution 94 Operating Risks 40 Materiality Initiatives That Sustain Growth 100 Summary of CSR Activities in Fiscal 2013 and Outline of Next Fiscal Year’s Goals 42 The NYK Group’s Evolution by Numbers Management System 104 Consolidated Financial Statements and Notes 48 Environment 135 Major Consolidated Subsidiaries 53 Safety 136 Environmental Performance Data 56 Human Capital Development 137 Environmental Accounting 58 Social Contribution Activities 138 Human Resources Data 60 Systems Creating Competitive Advantages 140 Corporate Data Information Performance The Structure of This Report Readers will gain a better understanding of the NYK Group by reading the report in the following order. Our Course Business Strategy Focus: Past – Future Focus: Present – Future Our Message Learn about business Learn about business segments Focus: Past – Present management strategies going forward Performance Learn about management team’s thinking Information Unique NYK Focus: Past Focus: Present – Future Learn about results Learn about growth-driving initiatives Management System Focus: Past – Present Learn about foundation supporting growth Cautionary Statement with Regard to Forward-Looking Statements Some statements made in this report are forward-looking statements, which involve certain risks and uncertainties that could cause actual results to differ materially from those projected. Please be advised against undue reliance on such forward-looking statements, which are based on information currently available. NYK undertakes no obligation to publish revised forward-looking statements to reflect events, circumstances, or unanticipated events after the present juncture. NIPPONNippon YUSEN Yusen KABUSHIKI Kabushiki KAISHA Kaisha
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