FACT BOOK Ⅰ 2021
Segment Business Data May 2021
Ticker Code 9101 1 NYK Group Mission Statement
NYK Group Values “Integrity” “Innovation” “Intensity”
WHY
Our Mission
WHAT Contribute to the resolution of social and environmental issues through our Our Vision business activities Act responsibly and respect the highest ethical and social standards Create new values through constant “staying half a step ahead” spirit Develop a well-balanced revenue structure
HOW
Medium-Term Management Plan
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 2 Contents and Strategy Segment Data Information
Medium-Term Management Plan Staying Ahead 2022 with Digitalization and Green Basic strategies 3
Step 1 of Medium-term management plan 4 Step 2 of Medium-term management plan 5 Businesses Step 3 of Medium-term management plan 6 and Strategy Medium-Term Management Plan Progress 7 NYK Group Fleet 8 Performance Highlights 9 Financial Highlights／ 10 Revenues and Recurring Profit by Industry Segment
Container Transport 11 Terminal and Harbor Transport Services 13 Air Cargo 14 Business Logistics 16 Segment Car Transport 17 Data Bulk Transport 18 Tankers 21 LNG Fleets 23
Environmental Efforts 24 Safety on the Sea 25 Corporate Corporate Governance 27 Information Evaluation by Outside Stakeholders ⅠⅡ 28 History of NYK Group 30 Investor Information 31
Notes: NYK judges the estimates and targets included herein to be rational at the time these materials were prepared. However, please be aware that actual performance could vary from the projections contained in this document.
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 3 Medium-Term Management Plan Staying Ahead 2022 with Digitalization and Green Basic strategies and Strategy Segment Data Information
Basic strategies of “Staying Ahead 2022 with Digitalization and Green” Earnings and financial targets
FY2017 Medium-Term Target Results (by FY2022） Step 1 Recurring Profit ¥28 billion ¥70～100 billion Optimize business portfolio ROE 3.8％ min 8.0% Equity Ratio 26.6％ min 30% DER 1.78 1.5 or lower
Exchange rate (1US$) ¥111.19 ¥105 HSFO $320 Reduce market volatility Bunker oil prices (1MT): $341.41 * Accelerate business growth LSGO $620 and improve profitability *HSFO = High Sulphur Fuel Oil / LSGO = Low Sulphur Gas Oil To achieve ROE target Step 2 Step 3 Secure stableｰ Increase efficiency freight-rate and ROE target → min 8.0% business create new values Profitability Liquidity Accelerate business growth Financial Leverage Reduce stockholdings and Maintain investment grade or × Review and effectively utilize × improve profitability equivalent rating real estates Reduce cost
Reconfigure business portfolio to withstand volatile market conditions Step 1 Decisively reform the dry-bulk business Cash Flow Management Lead the new container JV (ONE) to success Outlook for cash flow allocation Develop well-balanced revenue structure (5 years cumulative FY2018-22) Leverage logistics capabilities with YLK Step 2 Operating cash flow ¥570 billion Strengthen car carrier and auto-logistics businesses Reinforce LNG and offshore businesses Cash generation by asset Accelerate growth by constantly improving our Cash generation Step 3 technological, informational and network capabilities liquidation Implement Digitalization and Green initiatives Reduce stockholdings by cost reduction Review and effectively utilize real estates Dividend policy
Capital Basic policy for the return of profits to shareholders is to pay stable dividends Shareholder investment Debt repayment aiming for a payout ratio of 25% on a consolidated basis returns ¥520 billion
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 4 Step 1 of Medium-term management plan and Strategy Segment Data Information
Dry-bulk Container shipping
Decisively reform dry-bulk business and improve its profitability Made a major strategic shift pursuing operational efficiency and economy of scale through the integration of container shipping business Strengthen business structure to withstand volatile market conditions Initiatives to date Strictly control market risk exposure Short- term chartered vessels ratio among total fleet in operation Reformed service structure Separate owner/operator functions in aim to gain • Expanding container shipping service network through THE Alliance cost competitiveness and market adaptability Reduced market volatility Optimize fleet composition based on cargo • Switching to newly built large vessels with high cargo-loading rates and fuel efficiency contracts • Reducing fuel consumption by upgrading existing vessels Secure stable earnings with efficient operation and • Saving fleet and operating costs by efficiently deploying vessels fleet allocation ＜image＞ • Efficiently utilizing containers for higher profit margin Improved technological capabilities Reduce fleet and operating costs by effective application of ICT expertise • Working to ensure safe, fuel efficient operations by utilizing big data
Differentiate through expertise in IT and vessel operation Enhance practical application skills with usage of onboard IoT data management system Operational Efficiency Economy of Scale (SIMS) Best practice Larger business size Creation of more synergy and Achievement of economy of scale by enhancement of operational efficiency bringing three companies’ business by integration of each company’s best practice
Enrich customer engagement with proposal-based marketing and sales activities Synergy of approx. 110 billion yen/year Profit stabilization by accomplishment of synergy of approx. Accurately identify customer needs and provide best solutions 110 billion yen/year Further strengthen long-term and stable win-win partnership with the customers Source of competitiveness • Plan to develop services across over 90 countries Economy • Sustainable safety vessel operation leveraging cutting edge of scale technology • Carry out the IBIS project continuously to achieve optimal economic ship operations • Forecast future worldwide container transportation plans by an optimization system incorporating mathematics and statistics model in EAGLE project.
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 5 Step 2 of Medium-term management plan and Strategy Segment Data Information
Promote growth （Logistics Car carriers Auto logistics） Enhance investment （LNG Offshore business）
Initiatives to date Initiatives to date
Logistics LNG Fully acquired Yusen Logistics • Winning orders for the transportation of LNG, sourced from shale gas fields in North America • Repositioning logistics business as the Group’s core business • Expanding its business scope to feature offerings for transporting LNG, operating LNG-fueled vessels, and supplying and marketing LNG as marine fuel • Deepening collaboration of each business and strengthening sales capabilities • Seeking synergetic effect by mutually utilizing its global network and management resources Offshore business • Developing business at every stage of the energy value chain, from upstream to downstream Offshore Business and LNG Value Chain Refining, Prospecting , Production, Inter-regional Exploration liquefaction, Transport Customers drilling storage transport storage Car carriers Auto logistics Research FSO, FPSO LNG LNG- vessel, Deep-sea Shuttle Cameron Wheatstone Carriers, FSRU fueled • Globally expanding roll-on/roll-off (RORO) terminal facilities and onshore value- Seismic drillship Tanker LNG Project vessel Project Tankers s added services in addition to maritime automobile transport vessel • Focusing on technological innovation and human resource development to maintain Considering Workflow Services provided by NYK Group Participated the highest level of quality control participation
Future actions Future actions
Logistics LNG
• Enhance total logistics business and run a selective and concentrated investment • Further expand and develop business in newly emerging countries. policy focusing on growing industries and emerging markets • Strongly promote LNG marine fuel sales business in response to the increasing • Fully utilize the Group’s management resources supported by the pillars of people, interest in LNG-fueled vessels assets, IT, and capital to strengthen sales capabilities
Car carriers Auto logistics Offshore business
• Focus on improvement of transportation/cargo handling efficiency using digital • Make selective investments in areas of strength and technological expertise techniques and make proactive efforts on environmental issues • Enter into new businesses in regards to the broad transformations in the global • Develop and provide a sophisticated, high-quality finished-car logistics looking energy landscape and to effectively meet customers needs ahead to the structural changes in the automotive industry
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 6 Step 3 of Medium-term management plan and Strategy Segment Data Information
Initiatives to date Transform the entire supply chain
Working on various technological developments and increasing operational efficiency Transform the entire supply chain more environmentally sustainable with the application of the latest digital technology R&D of proprietary Solutions through Onboard IoT data technologies mobile apps management system Optimization of route, • Preventing engine accidents • Enhancing operational • Enabling safe, efficient operation, and cargo and reducing maintenance efficiency and service operations through data space planning cost improvement through gathering, monitoring, sharing Simulation technology R&D for advanced information sharing mobile system between ship and apps shore by Digital Twin concept automation ship
Kirari NINJA
Unmanned Machinery Space (UMS) check Digitalization system Ocean Transportation Data Planned improvement： Port Port Increase Operational Lead-time operational efficiency 10 billion yen/year Process reduction Inland Transportation efficiency transportation sharing Storage
Green Production Sales
Order Visualization of the entire Trade platform Energy efficient vessel Vessels powered by Expansion of optimum supply chain with development using design next-generation fuels vessel operation centralized information block chain technology • Improving vessel energy • Developing LNG-fueled • Intensifying fuel-saving efforts Digital forwarding efficiency and complying with vessels to reduce CO2, NOX, by expanding the IBIS project environmental regulations and SOX emission to various vessel types
LEFT : LNG-fueled tugboat CENTER : LNG-fueled car-carriers RIGHT : LNG bunkering vessel
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 7 Medium-Term Management Plan Progress and Strategy Segment Data Information
Plan Progress/Initiatives
- Reduced market exposure to withstand volatile market conditions Stable-freight-rate business Strictly control market risk exposure. Revise long-term chartered vessels - Implemented structural reforms primarily of medium/large vessels （ 100 million yen ） Dry-bulk ratio. • Early redelivery of 10 high-cost chartered vessels since FY2018 Strengthen medium-/long-term • Extraordinary loss of approx. JPY54.7billion was also recorded in Step 1 relationships with customers. FY2020 800 765 720 Optimize - Achieve integration effect through synergy by adopting best practice Liner business Merge our liner business together with (Terminals and harbors) those of two other Japanese - Working to resolve and stabilize issues such as schedule delays and portfolio Logistics companies. a shortage of containers due to congestion at ports and inland areas Container Pursue efficiencies and economies of for the time being Bulk shipping scale. - Continue medium- to long-term fleet development assessment to Real estate Generate JPY110 billion synergy. further raise competitiveness Others
Logistics Pursue synergy by effective mutual utilization of global network and 0 （YLK） management resources 2018 2019 2020 Leverage group business *Bulk shipping consists of car carriers, dry-bulk infrastructure for sales. (med-/long-term contracts), and liquid (med-/long- Step 2 - Drive forward marine transport by LNG-fueled vessels and utilize term contracts). Car carrier renewable energy in RORO terminal for finished cars Secure stable- Other businesses freight-rate - Contribute to GHG reduction in customer supply chains business （ 100 million yen ） LNG fleet plan: 97 ships (end of Secure stable-freight-rate business by acquiring medium- to long-term LNG/Offshore FY2022) 1,400 Developing business at every contracts Liner Business (Container business) stage of the energy value chain, (Number of LNG Vessels : March 2022 forecast - 89 vessels) from upstream to downstream. Air cargo Bulk shipping
Others Transform the entire supply chain more - Established NYK Digital Academy to nurture human resources who Step 3 Digitalization sustainable with the application of the promote innovation 0 latest digital technology. - Support business activities of front line with digital transformation Increase ▲210 efficiency ▲715 and 2018 2019 2020 Implement Green Business initiatives to - Accelerating initiatives such as LNG fuel supply, offshore wind power, create new * Bulk shipping consists mainly of dry-bulk and liquid Green take new challenges on renewable and zero emission (hydrogen, ammonia), etc. values energy business for driving future other than med-/long-term contracts. growth and value creation. - Aim for ordinary income to reach billions of yen per year by 2030
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 8 NYK Group Fleet and Strategy Segment Data Information
NYK Group Fleet
As of March 31, 2020 As of March 31, 2021
Owned Owned The classification Chartered Total Chartered Total Type of Vessel (Incl. Co-Owned) (Incl. Co-Owned) of the business segment Vessels Vessels Vessels Kt (dwt) Vessels Kt (dwt) Vessels Kt (dwt) Vessels Kt (dwt) Liner Trade Container ships 28 30 58 4,967 26 1,659 29 3,039 55 4,698 Logistics Domestic vessels and ferries 4 8 12 73 4 23 8 48 12 71 Capesize bulkers 24 90 114 22,329 21 4,125 97 19,166 118 23,291 Panamax bulkers 36 57 93 8,003 37 3,291 60 5,106 97 8,397 Handysize bulkers 60 103 163 7,982 57 2,845 93 4,467 150 7,312 Wood chip carriers 9 34 43 2,330 9 460 31 1,717 40 2,177 Bulk Shipping Car carriers 44 80 124 2,184 42 758 78 1,382 120 2,140 Tankers 53 21 74 10,211 49 6,176 19 2,448 68 8,624 LNG carriers 75 3 78 6,353 76 6,164 3 226 79 6,390 Multi-purpose carriers 22 19 41 696 21 397 24 330 45 727 Others 6 0 6 43 4 29 0 0 4 29 Other Businesses Cruise ships 1 0 1 7 1 7 0 0 1 7 Total 362 445 807 65,178 347 25,934 442 37,929 789 63,863 Shuttle tankers 28 3,392 29 3,568 Offshore business FPSO 3 - 3 - * Including vessels owned by equity method affiliates FSO 2 - 2 - Drillship 1 - 1 - Green business LNG bunkering vessels 2 - Grand total 841 68,570 826 67,431
Note: Co-owned ship’s dwt is including not only NYK Group companies’ ownership but also other companies’ ownership. The total number of LNG carriers and cruise ships owned includes vessels owned by equity method affiliates. FPSO 3
Others 4 FSO 2 Shuttle tankers 29 Drillship 1 Cruise ships 1 LNG bunkering vessels 2
Multi-purpose carriers 45 Container ships 55
LNG carriers 79 Domestic vessels and ferries 12 826 Tankers 68 For the year ended Capesize bulkers 118 March 31, 2021 Car carriers 120 Panamax bulkers 97
Wood chip carriers 40 Handysize bulkers 150 NYK Fact Book Ⅰ 2021 Businesses Business Corporate 9 Performance Highlights and Strategy Segment Data Information
Performance Highlights
(100 million yen) Recurring profit(Left scale) Net income(Left scale) Revenues(Right scale) (100 million yen) 24,018 3,000 22,372 25,000 21,832 18,971 22,723 2,153 2,000 19,238 18,078 18,293 20,000 1,392 16,683 840 16,084 1,000 584 475 600 330 444 188 280 201 311 15,000 177 182 10 0 -20 -332 -445 10,000 -1,000 -728
5,000 -2,000
-3,000 -2,657 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Dividends per Share * Transition of Exchange Rate and Bunker Oil Price
（yen） Dividends per share （ ） Exchange rate（Left scale） Bunker oil price（Right scale） （US$/Metric Ton） 200 Yen/US$ 200 160 800 666.22 673.27 624.11 557.28 110.67 150 120 108.76 111.19 109.13 105.79 600 120.78 109.19 99.75 100 80 454.97 400 298.66 442.49 70 78.9 82.33 362.95 60 341.41 50 50 40 40 40 40 200 30 253.75 20 0 0 0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
* On October 1, 2017, NYK Line conducted a reverse stock split at a ratio of 10 ordinary shares to one ordinary share. The amount of the dividend per share for the fiscal year ending on and before March 31, 2018 in the graph above takes into consideration of the effect of this reverse stock split. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 10 Financial Highlights / Revenues and Recurring Profit by Industry Segment and Strategy Segment Data Information
Shareholders’ Equity and Interest-bearing Debt and Shareholders’ Equity Ratio Debt-equity Ratio Return on Equity (ROE)
(100 million yen) (%) (100 million yen) (times) (%) Shareholders' equity（Left scale） Interest-bearng debt（Left scale） Retrn on equity 10,000 45.0 15,000 Debt-equity ratio（Right scale） 2.5 35.0 2.27 25.6 Shareholders' equity ratio（Right scale） 2.15 40.0 1.99 25.0 31.5 34.5 1.84 1.72 8,000 12,000 2.0 35.0 1.81 1.78 28.2 29.4 1.36 15.0 1.52 6.2 27.3 26.8 26.6 4.8 6.6 25.6 30.0 1.22 3.1 2.3 3.8 5.0 6,000 24.4 23.9 9,000 1.5 25.0 -5.0 20.0 4,000 -8.6 6,000 1.0 -15.0 15.0 -11.5
10.0 -25.0 2,000
3,000 0.5 1 1 9 3 1 8 3 4 2 3 6 4 8 4 6 3 7 2 1 8 5 3 4 6 9 1 9 0 0 0 3 2 1 7 2 5
6 9 4 9 0 5 3 4 4 1 -35.0 5.0 , , , , , , 7 5 2 1 7 2 5 8 6 2 4 4 8 5 , , , , , , , , , , 0 2 2 0 , , , 0 0 , 5 6 7 8 7 5 5 4 4 6 1 1 1 1 9 9 9 1 1 9 0 0.0 0 0.0 -45.0 -41.0 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20 '11 '12 '13 '14 '15 '16 '17 '18 '19 '20
Revenues by Industry Segment (100 million yen) Recurring Profit by Industry Segment (100 million yen)
Liner & logistics ( Liner trade Air cargo Logistics Terminal and harbor transport ) Liner & logistics ( Liner trade Air cargo Logistics Terminal and harbor transport ) Bulk shipping Cruise Real estate Other Elimination/unallocation Bulk shipping Cruise Real estate Other Elimination/unallocation 30,000 2,500 2,153 24,018 22,372 22,723 25,000 21,832 2,000 18,971 19,238 18,078 18,293 20,000 1,500 16,683 16,084
15,000 1,000 840 584 600 444
10,000 500 177 280 10
5,000 0
0 -500 -332 -20
-5,000 -1,000 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Notes: 1. “Terminal and harbor transport” segment is included in “Liner trade” segment. Also reporting segment of some consolidated subsidiaries has been changed from “Liner trade” to “Bulk shipping”, from April 1, 2013. 2. “Others” includes cruise ships, as NYK Line integrated its cruise business in Other Business Services segment effective from April 1, 2015. 3. The figures before the changes of the business category are not restated. 4. “Global Logistics” segment was renamed to “Liner & Logistics” on April 1, 2021. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 11 Container Transport and Strategy Segment Data Information
Fleet Sizes of Full Container Transport Operators Operating Environment of the Container Shipping Business
Competitive Conditions Changed as Acquisitions and Mergers Expand Scale of Market Players As of December 31, 2020 As of December 31, 2019 Operator Ranking Vessels TEUs Share Ranking Vessels TEUs Share Maersk Denmark 1 684 3,992,248 17.0% 1 689 4,041,660 17.7% MSC Switzerland 2 557 3,785,800 16.1% 2 545 3,675,633 16.1% Container Shipping Capacity as of September 2015 COSCO China 3 454 2,960,224 12.6% 3 433 2,876,115 12.6% （1,000TEU） France CMA CGM 4 530 2,947,671 12.5% 4 479 2,681,556 11.8% 3,053 Hapag-Lloyd Germany 5 237 1,714,658 7.3% 5 237 1,659,129 7.3% 3,000 ONE Singapore 6 206 1,487,494 6.3% 6 219 1,541,755 6.8% 2,680 Evergreen Taiwan 7 196 1,273,519 5.4% 7 198 1,272,530 5.6%
HMM Korea 8 68 702,060 3.0% 10 61 381,404 2.9% 2,000 Yang Ming Taiwan 9 89 616,672 2.6% 8 104 669,773 1.8% 1,791 ZIM Israel 10 85 369,888 1.6% 11 59 293,214 1.7% Wan Hai Taiwan 11 126 341,026 1.5% 12 97 246,953 1.3% 958 946 866 1,000 702 625 622 591 PIL Singapore 12 95 296,524 1.3% 9 123 414,409 1.1% 585 556 530 516 450 399 KMTC Korea 13 64 168,039 0.7% 13 66 157,606 0.7% 384 380 IRISL Iran 14 29 145,372 0.6% 14 29 145,372 0.6% 16% 14% 9% 5% 5% 4% 4% 3% 3% 3% 3% 3% 3% 3% 2% 2% 2% 2% 0 SITC China 15 87 129,223 0.5% 15 87 126,794 0.6% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 E M M H H H Y N P H C C C O M A U K v I a S a M Y A M O S a L O P a S O L e Total of top 15 p n U n C e K L S C S M C A L j a r - g D
3,507 20,930,418 89.1% - 3,426 20,183,903 88.5% r L C C i L g
n g s companies C O M r k - e G L i e Others - n 1,778 2,571,546 10.9% - 1,824 2,615,775 11.5% M l g n o y
Total 5,285 23,501,964 100.0% - 5,250 22,799,678 100.0% d
Source: Compiled by NYK Line based on data published by MDS, IHS-Markit Container Shipping Capacity as of December 2020
（1,000TEU） 3,992 Share of Megacarriers and Alliances on Core Routes 4,000 3,786 2.9% 2,960 2,948 3,000 15.1% 25.6% 34.4% 2,000 1,715 36.2% 1,487 North 1,274 22.2% Europe 1,000 America 702 617 370 297 341 168 145 129 17.0% 16.1% 12.6% 12.5% 7.3% 6.3% 5.4% 3.0% 2.6% 1.6% 1.5% 1.3% 0.7% 0.6% 0.5% 35.4% 0 28.2% 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 M M C C H O E H Y Z W P K I S R v I I I a M O M M N a a S M L T I a S p e n e E S C M A n T C L a r g r C C g
g s H
C O M r k - a
*1 *2 e G i L ： i n Ocean Alliance COSCO, CMA CGM , Evergreen e M l g n *1 COSCO includes OOCL o y
THE Alliance: ONE, HMM, Yang Ming, Hapag-Lloyd d *2 CMA CGM includes APL 2M： Maersk, MSC, ZIM Others 2 – 4 million TEU class 1 – 2 million TEU class Under 1 million TEU class Source : Compiled by NYK Line based on data as of February 28, 2021, published by MDS Transmodal in March,2021. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 12 Container Transport and Strategy Segment Data Information
Container Transport Volumes Freight Rates (Jan. 1, 1998=1,000 point)
（1,000TEU） Asia ←→ North America China → USA (East Coast) China → USA (West Coast) China → Europe 4,000 30,000 Asia → North America North America → Asia 24,755 24,963 3,500 25,000 21,850 20,518 20,263 3,000 19,116 18,405 20,000 17,587 16,687 2,500 15,007 15,445 15,000 2,000
10,000 7,721 7,327 7,218 6,962 7,494 7,606 7,396 7,419 7,245 7,449 7,476 1,500
5,000 1,000
500 0 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2014 2015 2016 2017 2018 2019 2020 2021 （Forecast）（Forecast）（Forecast） Source : Drewry Maritime Research Source : China (Export) Containerized Freight Index
Supply-Demand (Year-on-Year Percentage Changes)
Percentage change in container cargo movement （1,000TEU） Asia ←→ Europe Percentage change in vessel capacity 20,000 10.0% 18,116 8.6% 8.80% Asia → Europe Europe → Asia 16,267 16,754 15,788 8.0% 6.70% 15,030 15,475 15,390 6.3% 14,550 14,817 5.8% 5.90% 15,000 14,010 13,330 6.0% 4.80% 6.1% 4.00% 5.70% 4.0% 2.60% 2.60% 10,000 7,894 7,926 7,986 8,141 3.6% 3.70% 3.70% 7,184 7,599 7,365 2.0% 6,281 6,626 6,603 6,695 2.90% 1.7% 1.70% 1.80% 0.0% 5,000
-2.0% -1.60%
0 -4.0% 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) (Forecast) Source : Drewry Maritime Research Source: Compiled by NYK Line referencing Alphaliner Monthly Monitor March 2021、 Drewry Maritime Research
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 13 Terminal and Harbor Transport Services and Strategy Segment Data Information
Global Container Operator Capacity Ranking NYK’s TEUs and Number of Container Terminals (Terminal basis)
Ranking Operator Type of Operation Million TEUs Terminal Operations 1 China Cosco Shipping Shipping company 109.8 2 PSA International Terminal operator 84.8 3 APM Terminals Terminal operator 84.2 (CY) 2015 2016 2017 2018 2019 2020 4 Hutchison Ports Terminal operator 82.6 5 DP World Terminal operator 69.4 6 Terminal Investment Limited (TIL) Terminal operator 50.8 7 China Merchants Ports Terminal operator 35.6 Million TEUs 8.8 12.0 16.0 13.6 12.3 11.5 8 CMA CGM Shipping company 26.1 9 SSA Marine Terminal operator 13.0 10 ICTSI Terminal operator 11.8 11 Eurogate Terminal operator 11.7 No. of terminals 15 16 15 13 13 13 12 Evergreen Shipping company 10.1 13 Hyundai Shipping company 9.5 14 NYK Line Shipping company 8.2
15 MOL Shipping company 7.8 Note: The number of terminals refers to individual terminals in operation Source: Drewry Global Container Terminal Operators 2020, Drewry Maritime Research Notes: 1. Figures exclude total annual throughput for all terminals in which the shareholdings are 10% and less. 2. We have deducted volume handled in stevedoring and barge operations. 3. Due to the method of calculation utilized, there is some degree of variation between Drewry’s figures and the terminal operators’ publicly announced results. 4. Some figures include Drewry forecasts. 5. Type of Operation is based on Drewry's information. 6. CMA CGM includes APL terminals. 7. Hutchison Port Holdings includes the figure of Hutchison Trust’s operation.
Terminal Locations (Location basis)
Container terminal and stevedoring operations: 15 locations RORO ship stevedoring operations: 6 locations
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 14 Air Cargo and Strategy Segment Data Information
Changes in Annual Ex-Japan Air Freight International Rankings of Air Freight Operators Volumes by Destination Region
(10,000 deadweight tons) Ranking Company Capacity (Millions of ton kilometers) Americas Europe, Middle East, Africa Asia and Oceania 1 Emirates Airline 12,713 2 Qatar Airways 12,695 140 126 3 Cathay Pacific Airways 11,284 120 111 4 Federal Express 8,455 75 96 97 5 Korean Air 7,815 100 70 6 Lufthansa 7,391 60 58 78 7 Cargolux Airlines International S.A. 7,322 80 8 Singapore Airlines 6,491 52 60 9 United Parcel Service, Inc 6,252 10 Air China 5,912 40 25 19 … 18 18 20 12 16 All Nippon Airways 4,113 22 25 18 20 14 33 Japan Airlines Co., Ltd. 2,410 0 … 2016 2017 2018 2019 2020
37 Nippon Cargo Airlines (NCA, NYK Group) 1,929 Source: Compiled by NYK Line based on JAFA results
Source: IATA International Air Cargo Ranking 2018
Asia ↔ North America, Europe Change in Market Volume (1,000 tons)
Asia→Europe Europe→Asia Asia→North America North America→Asia 3,000 2,500 2,208 2,225 2,141 2,429 2,014 2,026 2,500 2,338 1,946 2,175 2,251 2,000 1,728 2,008 1,992 1,725 1,702 1,900 1,932 1,937 1,880 1,997 1,944 2,000 1,744 1,661 1,714 1,746 1,572 1,500 1,583 1,277 1,244 1,306 1,296 1,185 1,177 1,190 1,210 1,221 1,500 1,000 1,000
500 500
0 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2011 2012 2013 2014 2015 2016 2017 2018 2019
Source: Compiled by NYK Line based on Seabury Trade Database
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 15 Air Cargo and Strategy Segment Data Information
NCA Service Network
Anchorage (ANC)
Amsterdam (AMS) Luxembourg (LUX)
Milan (MXP) Shanghai (PVG) New York (JFK) Baku （GYD) Tokyo (NRT) San Francisco (SFO) Chicago (ORD) Taipei (TPE) Hong Kong (HKG) Dallas/Fort Worth (DFW) Bangkok (BKK) Los Angeles (LAX) Singapore (SIN)
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 16 Logistics and Strategy Segment Data Information
Comparison of Global Freight Forwarders (FY2019) Cargo Volume in Ocean Forwarding and Air Forwarding
Ocean Air Freight (thousand TEU) Ocean Freight Forwarding (Left scale) Air Freight Forwarding (Right scale) (thousand tons) Freight Forwarding Provider Forwarding 1,000 1,000 (thousand 815 (thousand tons) TEU) 800 764 723 800 Yusen Logistics 764 337 600 600 DHL Supply Chain & Global Forwarding 3,207 2,051 380 337 400 326 400 Kuehne + Nagel 4,861 1,643 200 200 DB Schenker 2,294 1,186 0 0 DSV 1,907 1,071 FY2018 FY2019 FY2020
Sinotrans 3,770 502
Expeditors 1,125 955 Logistics Center Locations As of March, 2０２1 Nippon Express 703 752
CEVA Logistics 1,050 416
UPS Supply Chain Solutions 620 965 Europe 20 nations ： C.H.Robinson 1,000 210 Logistics Center 118 Locations Warehouse ： 71 locations East Asia 4 nations Americas 6 nations 692 thousand m2 Logistics Center ： 84 Locations Logistics Center ： 66 locations Kerry Logistics 1,250 409 Warehouse ： 41 locations Warehouse ： 35 locations 333 thousand m2 324 thousand m2
Bollore Lgistics 839 634
Geodis 866 308
Japan Hellman Worldwide Logistics 955 586 Logistics Center ： 88 locations Warehouse ： 33 locations Kintetsu World Express 644 566 219 thousand m2
Agility 740 415
South Asia/Oceania 16 nations DACHSER 520 330 Logistics Center ： 251 locations Warehouse ： 168 locations Number of employees : Approx. 23,690 Hitachi Transport system 538 260 1,112 thousand m2 Number of countries : 47 nations Number of logistics business locations : 607 Number of warehouses locations : 348 Damco/Maersk Logistics 577 158 Total floor area of warehouses : 2,683 thousand m2
Source: Created by NYK Line based on ARMSTRONG ASSOCIATES, INC. Database
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 17 Car Transport and Strategy Segment Data Information
Global Car Transport Fleet Ranking (As of December 31, 2020) Japanese Automaker Exports (By Destination) (As of December 31)
Asia Middle East Europe North America Central America Other Ranking Operator Vessels Share (%) Capacity (Cars) Share (%) 1 NYK Line 96 14.3% 583,905 14.7% (Tens of thousands of vehicles) 2 GLOVIS 85 12.7% 560,130 14.1% 600 3 Mitsui O.S.K. Line 81 12.1% 496,009 12.5% 4 EUKOR 73 10.9% 476,885 12.0% 500 484 480 471 482 482 467 458 463 5 K-Line 62 9.3% 380,188 9.6% 446 447 6 GRIM 58 8.7% 276,986 7.0% 400 374 7 WWO 49 7.3% 337,926 8.5% 8 HAL 40 6.0% 264,135 6.6% 9 Toyofuji Shipping Co., Ltd. 13 1.9% 58,660 1.5% 300 10 NEPTUN 12 1.8% 48,400 1.2% 11 UECC 11 1.6% 48,300 1.2% 200 11 ARC 10 1.5% 62,779 1.6% 13 SCC 7 1.0% 44,400 1.1% 13 SALLAU 7 1.0% 34,241 0.9% 100 15 ECL 5 0.7% 19,700 0.5% ー Others 61 9.1% 283,394 7.1% 0 Total 670 3,976,038 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020
Source: Hesnes Shipping AS, The Car Carrier Market 2020 Source: Japan Automobile Manufacturers Association, Inc. Note: This table includes only vessels with a capacity of 2,000 cars or more.
Car Exports from Main Asian Countries Worldwide Car Transport Volume
(Tens of thousands of vehicles) Japan Korea China India Thailand (Tens of thousands of vehicles)
1,200 1,800 1,054 1,544 1,028 1,021 1,000 1,010 1,025 1,007 1,486 1,482 1,483 1,457 1,456 1,440 1,415 1,000 1,500 1,366 1,285 783 1,129 800 1,200
600 900
400 600
200 300
0 0 2013 2014 2015 2016 2017 2018 2019 2020 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 （Forecast）（Forecast）（Forecast）（Forecast）（Forecast）
Source: Japan Automobile Manufacturers Association, Inc., FOURIN CAAM Source: Created by NYK Line (including estimation)
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 18 Bulk Transport and Strategy Segment Data Information
Bulk Carrier Fleet Ranking (As of January 1, 2021) Increase in Seaborne Trade and Fleet Tonnage
Dry bulk seaborne trade Bulk carrier fleet tonnage Ranking Company Kt (dwt) Vessels 5.0% 4.1% 4.0% 1 China COSCO Shipping 32,744 299 3.7% 4.0% 2 NYK Line 14,968 160 2.9% 3 Fredriksen Group 14,901 118 2.4% 3.0% 2.2% 4 K-Line 13,185 109 2.9% 2.7% 5 China Merchants 13,183 115 2.0% 6 Star Bulk Carriers 12,859 116 1.0% 1.6% 7 Berge Bulk 11,338 59 0.0% 8 Mitsui O.S.K. Lines 10,834 89 0.4% Oldendorff Carriers 10,448 101 0.0% 9 -1.0% 10 Pan Ocean 10,360 72 11 ICBC 9,178 33 -2.0% -1.9% 12 NS United KK 8,644 47 -3.0% 13 Imabari Shipbuilding 8,535 80 2015 2016 2017 2018 2019(Estimate) 2020(Forecast)
Source : Compiled by NYK Line based on Clarkson Database Source : Clarksons Dry Bulk Trade Outlook (February, 2021)
China’s Crude Steel Production, Iron Ore Imports, and Global Market Share Volume and Forecast of Dry Bulk Seaborne Trade
Crude steel production (Millions of tons) Global market share Iron ore Coking coal Steam coal Grain Minorbulk Iron ore imports (Millions of tons) 1,400 Market share of crude steel production 100% 6,000 Market share of iron ore imports 5,081 5,131 5,182 90% 4,938 4,982 5,029 1,200 4,796 4,796 4,850 4,893 5,000 4,671 80%
1,000 70% 4,000 60% 800 50% 3,000 600 40% 2,000 400 30% 20% 1,000 200 10%
0 0% 0 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） （Forecast）
Source : Crude steel production: Compiled by NYK Line referring data from Clarkson Shipping Intelligence Network Timeseries Source: Created by NYK Line (including estimation) Iron ore imports: Compiled by NYK Line referring data from Clarkson Dry Bulk Trade Outlook NYK Fact Book Ⅰ 2021 Businesses Business Corporate 19 Bulk Transport and Strategy Segment Data Information
Dry Bulk Cargo Export and Import
Export Iron Ore Coking Coal Steaming Coal Grain (Millions of tons) (Millions of tons) (Millions of tons) (Millions of tons)
1,600 400 1,200 800
1,400 350 700 1,000 1,200 300 600 800 1,000 250 500
800 200 600 400
600 150 300 400 400 100 200 200 200 50 100
0 0 0 0 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 (Forecast) (Forecast) (Forecast) （Forecast） （Forecast） （Forecast） (Forecast) (Forecast) (Forecast) (Forecast) （Forecast） （Forecast） Australia Brazil South Africa Australia USA Indonesia Other USA Canada ＥＵ Argentina Canada India Other Indonesia Australia FSU Brazil Australia FSU other Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation) South Africa Col/Venez Other Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation)
Import Iron Ore Coking Coal Steaming Coal Grain (Millions of tons) (Millions of tons) (Millions of tons) (Millions of tons) 1,600 400 1,200 800
1,400 350 700 1,000 1,200 300 600 800 1,000 250 500
800 200 600 400
600 150 300 400 400 100 200 200 200 50 100
0 0 0 0 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 (Forecast) (Forecast) (Forecast) （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） （Forecast） (Forecast) （Forecast） （Forecast） Japan China Mexico EU Other China Japan EU15 Korea Taiwan Other Japan India China Korea EU15 Taiwan Other China India Japan Korea EU15 Taiwan Other Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation)
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 20 Bulk Transport and Strategy Segment Data Information
Dry Bulk Market Trends
2,400 12,000
2,000 10,000
9.11 (Sept. 11, 2001)
1,600 8,000 Iraq War (Mar. 2003–May 2003)
Gulf War (Aug. 1990–Feb. 1991) 1,200 Oil Crisis 6,000 (Oct. 1973–Aug. 1974) End of the Cold War Iran–Iraq War (Dec. 1989) 4th Middle East War (Sept. 1980–Aug. 1988 (Oct. 1973)
800 Plaza Agreement 4,000 Oil Crisis (Sept. 1985) Asian Currency Crisis (Oct. 1978–Apr. 1982) (July 1997–1998)
Suez Canal Reopens Collapse of U.S.S.R. (May 1975) (Dec. 1991) 400 2,000
Financial Crisis 0 (Sept. 2008~) 0
1971 1975 1980 1985 1990 1995 2000 2005 2010 2015 2021
Norwegian Time Charter Index (Left) BFI/BDI monthly average (Right) Jan. 1971–Dec. 1984 Norwegian Time Charter Index (1971 = 100) Jan. 1985–Oct. 1999 Baltic Freight Index (Jan. 4, 1985 = 1,000) Nov. 1999~ Baltic Dry Index
BDI: Baltic Dry Index. An index for bulk carrier costs.
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 21 Tankers and Strategy Segment Data Information
Increase in Seaborne Trade and Fleet Tonnage Tanker Fleet Ranking (As of January 1, 2021) (Sum of Crude Oil and Oil Product Tankers)
10.0% Ranking Company Kt (dwt) Vessels 5.8% 4.7% 4.0% 4.2% 5.0% 1.9% 1 China COSCO Shipping 20,749 146 1.0% 2 China Merchants 18,511 105 4.5% 3.4% 3 Euronav NV 17,011 66 0.0% 2.8% 4 -0.1% Angelicoussis Group 15,097 56 -1.1% 5 Bahri 14,407 74 -5.0% 6 Nat Iranian Tanker 13,358 53 -6.4% 7 Mitsui OSK Lines 12,724 129 -10.0% 2016 2017 2018 2019 2020 2021 8 Fredriksen Group 12,102 70 （Estimate） (Forecast) 9 Unknown 11,387 111 Oil tanker fleet tonnage Oil seaborne trade 10 SCF Group 11,295 117 Source : Compiled by NYK Line referring Clarksons Oil & Tanker Trades Outlook (March, 2021) 11 Dynacom Tankers Mgmt 10,994 66 12 Petronas 9,682 64 13 Scorpio Group 9,013 134 14 DHT Holdings 8,372 27 23 NYK Line 5,697 26 Crude Oil Export and Import Source : Compiled by NYK Line based on Clarkson Database Export Import
Volume and Forecast of Crude Oil Seaborne Trade Middle East FSU North America North America Europe China West Africa Brazil India Japan Korea Other Central and South America Other Other Asia Other (Millions of tons) (Millions of tons) 2,500 (Millions of tons) 2,500 2,500 2,023 2,049 2,075 1,961 1,993 1,899 1,930 2,000 1,873 1,837 1,868 1,762 2,000 2,000
1,500 1,500 1,500
1,000 1,000 1,000
500 500 500
0 0 0 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2014 2019 2020 2024 2029 2014 2019 2020 2024 2029 （Forecast）（Forecast）（Forecast）（Forecast）（Forecast）（Forecast）（Forecast）（Forecast）（Forecast）（Forecast） (Forecast)(Forecast)(Forecast) (Forecast (Forecast)(Forecast)
Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation) Source: Created by NYK Line (including estimation)
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 22 Tankers and Strategy Segment Data Information
Oil Tanker Market (world scale) : VLCC from Middle East to Japan
WS
500
Iraq War (Mar. 2003–May. 2003)
400 Historic High WS 350 (Nov. 2004)
300 End of the Cold War (Dec. 1989) Iran–Iraq War 9.11 (Sept. 1980–Aug. 1988) (Sept. 11, 2001) Financial Crisis Gulf War (Sept. 2008-) Oil Crisis (Aug. 1990–Feb. 1991) (Oct. 1978–Apr. 1982) Collapse of U.S.S.R. WS 169.5 200 Plaza Agreement (Dec. 1991) (Nov. 2000) (Sept. 1985) WS 140 Asian Currency (Jan. 1991) Crisis WS 105 (July 1997–1998) (July 1979)
100
0 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 92 93 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 16 17 18 19 20 21 1976 1980 1985 1990 1995 2000 2005 2010 2015 2021
WS: World Scale A cost index for oil tankers. The company used WS for Japanese-bound ships until December 6, 2015 and have been using WS trends for Chinese-bound ships for onwards.
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 23 LNG Fleets and Strategy Segment Data Information
Comparison of LNG Fleets LNG Transactions and Demand Forecast by Major Market
(Vessels delivered by End of March, 2021) （Millions of tons） Asia/Oceania Europe North, Central and South America Africa Company Vessels 800
700 Mitsui O.S.K. Lines 91 600
NYK Line 81 500
K-Line 47 400 300 Nakilat 67 200 Teekay Shipping 47 100
Maran Gas Maritime Inc. 37 0 2015 2016 2017 2018 2019 2020 2025 2035 2040 （Forecast） （Forecast） （Forecast） GasLog Ltd. c/o GasLog LNG 34 Source: Compiled by NYK Line with reference to IHS-CERA Report MISC 29
Bonny Gas Transport 23 LNG Export Countries (Top15) BW 22
MITSUI & CO., LTD 19 2020 Ranking of LNG export countries (mtpa) 2040 Ranking of LNG export countries (mtpa) (forecast) Ranking Country mtpa Share (%) Ranking Country mtpa Share (%) Golar LNG 16 1 Australia 78.5 21.7 1 U.S.A. (Atlantic) 143.5 22.1 Knutsen 15 2 Qatar 78.2 21.7 2 Qatar 124.2 19.2 3 U.S.A. (Atlantic) 45.2 12.5 3 Russia 96.7 14.9 Sovcomflot 12 4 Russia 30.4 8.4 4 Australia 78.0 12.0 Shell 8 5 Malaysia 23.4 6.5 5 Mozambique 50.8 7.8 6 Nigeria 21.0 5.8 6 Canada (Pacific) 32.6 5.0 Dynagas LNG Partners LP 6 7 Indonesia 14.8 4.1 7 Nigeria 25.7 4.0 Hoegh LNG 2 8 Trinidad and Tobago 11.5 3.2 8 Indonesia 16.5 2.5 9 Algeria 11.4 3.2 9 Papua New Guinea 16.2 2.5 Source: Compiled by NYK Line with reference to IHSReport 10 Oman 9.9 2.7 10 Malaysia 12.7 2.0 Note : LNG Tankers are usually co-owned by multiple companies. Mauritania Number of vessels shown above are counted as one vessel regardless 11 Papua New Guinea 8.5 2.3 11 9.4 1.4 of the ownership percentage of the vessel. 12 Brunei 5.9 1.6 12 Oman 8.4 1.3 The number of LNG vessels in shipping fleets does not include 13 United Arab Emirates 5.6 1.6 13 Algeria 6.0 0.9 remodeled floating storage and regasification units. 14 Angola 4.8 1.3 14 United Arab Emirates 5.0 0.8 15 Peru 3.8 1.1 15 Angola 4.3 0.7 Total Global Export Volume 361.2 Total Global Export Volume 648.5 Source: Compiled by NYK Line with reference to IHS-CERA Report
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 24 Environmental Efforts and Strategy Segment Data Information
CO2 reduction goal （Medium to long-term environmental goal) Timelines of New Businesses in the Energy Field
CO2 reduction per ton-mile FY2015 base year FY2030 FY2050 2020 2030 2050
Vessel Ocean transportation -30% -50% Supplying • Began onshore wind power business at car carrier terminal in Belgium Ripple effect to the entire supply chain -40% -70% Offshore Grow into mainstay • Begin operations of • Begin ownership and • Participate in wind an offshore operation of SEP vessel entire offshore business that contributes to power geotechnical • Begin ownership and wind power value Company earnings investigation vessel operation of CTVs chain NYK Promotes Decarbonization Through Exploratory Design of • Participate in offshore NYK Super Eco Ship 2050 wind power business Hydrogen Participate in hydrogen supply chain A new future concept ship has been designed by incorporating innovative technologies that will result in an supply • Demonstration of • Begin demonstration • Supply Develop into profit- hydrogen supply to supply hydrogen to hydrogen as making business emission-free vessel — the “NYK Super Eco Ship 2050.” chain chain ships fuel to ships This concept ship has been crafted as a 2050-model pure car and truck carrier (PCTC). The power needed to operate the ship has been cut by almost 67 percent by remodeling the hull to decrease water friction, reducing the weight of the hull, introducing fuel cells for electric propulsion, and relying on other highly Ammonia Participate in ammonia supply chain efficient propulsion devices. Instead of fossil fuels, power for the ship would come from solar energy and supply • Began joint • Supply to coal power using Develop into profit- hydrogen produced from renewable energy sources, all of which would lead to a reduction of CO2 by 100 chain development with ammonia fuel mixed making business percent and thus result in a zero-emission vessel. external partners combustion The NYK Group will promote decarbonization through technical development that contributes to energy savings and greenhouse gas (GHG) reduction. By applying this to actual vessels, through the concept of NYK Super Eco Ship 2050, the company will continue to contribute to the sustainable development of society Consuming and enrichment of the group’s corporate value.
Ammonia & • Began joint R&D • Begin demonstration Introduce our own ammonia-fueled and 67% reduction in energy derived from fossil fuels compared with a 2014-built vessel hydrogen on ships with of the operation of external partners ships equipped with hydrogen-fueled ships hydrogen fuel cells Improvement of Improvement of Electrical Power Lightweight Hull — Reduction of LNG Propulsion Efficiency Distribution Fuel Cells Minimal Resistance Electricity Demand Heavy oil 6% 1% 18% 34% 8%
Optimize ship operation utilizing Big Data Number of SIMS- equipped Vessels NYK is striving to ensure safe and energy-conserving ship * Figures of 2020 are on a calendar-year basis operations by making use of big data, such as information on 190 206 the engine performances and ship operations during voyages. 196 202 NYK’s Ship Information Management System (SIMS) is its platform for utilizing big data. By installing the system, NYK has been able to operate and assign vessels more efficiently based on highly accurate information about navigation speeds, fuel consumption performance, weather, and other factors. NYK is Solar Power Waste Heat 2017 2018 2019 2020 working to improve the system’s technologies and data Recovery Container Bulk 5% Car carriers % analysis capabilities with a view to broaden the use of the ships carriers 3 LNG Other Tankers system as an operational management platform tailored to the carriers vessels needs of each type of vessel in its fleet in the future. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 25 Safety on the Sea and Strategy Segment Data Information
PLAN DO
Safety promotion system Safety campaigns Each year, the Safety and Environmental Management Committee, chaired by the Every year, we conduct the Remember Naka-no- Se*2 safety campaign in the summer president reviews activities for the previous year and sets targets and guidelines for and the Sail on Safety*3 campaign in the winter. the next year. Near Miss 3000 activities Regional and Sub-organizations Inspired by Heinrich’s Law*4, we conduct Near Miss 3000 activities on board our ships Safety and Environmental Management Committee N-MEC Technology Committee as a proactive program to prevent accidents before they occur. We have developed Chair: President Administers the education, training, and development of crew members this program from a near-miss level to create what we call DEVIL Hunting activities
Committees by Ship Types that seek to eliminate accidents by identifying and addressing situations that are Regional SEMCs Containership/car carrier/ precursors to often overlooked problems. Further, we expanded the scope of the • East Asia tanker/liquid gas carrier/ Safety Promotion Environmental Management • South Asia dry bulker/cruise ship program to cover the entire NYK Group in 2006, and it also covers our partner Headquarters Headquarters Environmental Steering • Europe shipowners and ship-management companies. Safety Steering Committee Committee • North America Committees by Task Save Bunker Committee, etc. Major accident Number of DEVIL Hunting Reported 1 Minor accidents or Using downtime to measure safety troubles * Figures of 2020 are on a calendar- 29 Near misses year basis We use the time that ships are stopped due to accidents or problems as an indicator to 300 Heinrich’s Law measure the degree to which we have achieved safe ship operations. Our sea and land FY2017 FY2018 FY2019 CY2020 operations work together to bring us closer to the target of zero downtime. Unsafe conditions 3,000... Unsafe acts DEVIL 71,160 70,009 58,915 62,887 Hours of Delay per Vessel Number of vessels in operation Downtime per vessel Dangerous EVents and Irregular Looks (Vessels) (Hours per year) 1,000 50 Establishing the Remote Diagnostic Center: “Expert in the Loop” 14.4 19.1 11.2 23.9 800 33.0 19.3 19.4 17.1 40 Expert navigation officers and engineers analyze accuracy and importance of the data based 600 30 on anomaly detection system and take necessary actions including explanation to customers 400 20 DQMS To ship & 200 10 (Data Quality Management System) managing 0 0 Monitoring loss and delay company 1993 2014 2015 2016 2017 2018 2019 2020 rates of acquired data, Data for Planning to develop * Figures of 2020 are on a calendar-year basis maintaining constant data analysis system for transmission Emergency response network quality of control data for Anomaly Detection Program autonomous ships (RCC) We have created an emergency response network*1 to be prepared for maritime (Data Analysis) Assessment by experts accidents and problems no matter where they occur in the world. AI detects anomalies in Using LiVE for Shipmanager, experts the ship's engine plant conduct diagnostic analyses of anomalies detected by AI
*1 Emergency Response Network : Our emergency response network divides the world into four regions. This enables us to respond quickly and minimize damage in the event of any accident or problem anywhere on the seas. *2 Remember Naka-no-Se Campaign : We conduct this campaign every July, the month in which an oil spill occurred from the very large crude oil carrier Diamond Grace at Naka-no-Se in Tokyo Bay in 1997, to ensure that the lessons from the spill are not lost. *3 Sail on Safety Campaign : We conduct this campaign over the winter months of December and January with a primary focus on rough weather safety. *4 Heinrich’s Law : A formula regarding work-related accidents stating that there are 29 minor accidents and 300 near misses behind every major accident. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 26 Safety on the Sea and Strategy Segment Data Information
DO ACT NiBiKi (Shipmanagement Platform) Identification of causes and improvements toward achieving our Developed a system for managing daily ship operations to analyze data from numerous objectives angles and provide visualized results. Rolled out to all ships for use in November 2019. We use information on accidents in order to prevent their recurrence. We notify the As of FY2020, in use by approx. 260 ships and 7 management companies. The data fleet immediately when accidents occur, and follow up through means including safety collected by the system plans to be utilized efficiently for safety operation. bulletins*5 that issue instructions to prevent recurrence once we have identified the causes and formulated countermeasures. Furthermore, NAV9000 inspections require • Strengthen ship operation, reduce risk ships, ship owners, and ship management companies to make improvements so that Reducing workload with data sharing of accidents and environmental pollution, Benefits they can continue to operate vessels safely. Automatic records build accurate data pool • More-accurate data analysis • Utilize in crew education/training Advancements in Digitalization (Safety)
Aiming for more-advanced analysis through In addition to upgrades of LiVE for Shipmanager (ship engine plant monitoring app using big data), combination with SIMS data we developed a Data Quality Management System, which monitors the quality of logic and data related to trouble detection in engine operating data. Leveraging these technologies, enable to find （ ） signs of engine troubles automatically before happen, and leads to engine trouble preventions. APExS Action Planning and Execution System We are also engaged in cyber security to be prepared for the digitalized operation in the future. • Automatic collision avoidance functions Experience- One keyword of the NYK Group medium-term management plan is Digitalization. We aim to 30 years of ship Research to reduce accidents operation data based enhance the safety levels and seek even safer navigation. algorithm underway • Support from onshore facility • Remote operation in emergencies Commutating & standardization of ship data Aiming to realize the operation of manned autonomous ship from onshore facility (RCC : Remote Control Center)
Integration/sharing/analysis Data collection CHECK SIMS NAV9000 Intensifying the utilization of NiBiKi ship performance monitoring In 1998, the NYK Group introduced NAV9000, which is a rigorous, self-imposed ship IBIS Development a user-friendly safety management system, in order to fulfil our responsibilities in terms of safety and database environmental protection. This system requires ships, shipowners, and ship management RDC
companies to disclose information on safe ship operations and adhere to NYK standards • DQMS • Anomaly detection program Advancing analytic methods & for both ships we own and chartered vessels. technologies Due to Covid-19, Breakdown of NAV9000 Audits ROSE e-Audit has been * Figures of 2020 are on a calendar-year basis conducted in 2020 FY2017 FY2018 FY2019 CY2020 to maintain our activities. Ship audits 287 239 204 67 Utilizing to improve ships/operations Company audits 30 26 14 4
*5 Safety Bulletins : We publish a safety information journal to raise awareness and issue instructions to the entire fleet on piracy, terrorism, and other matters of concern in voyages as well as causes NYK Fact Book Ⅰ 2021 of accidents and problems and prevention measures. Businesses Business Corporate 27 Corporate Governance and Strategy Segment Data Information
NYK’s Corporate Governance Organization Chart (As of April 2021) Newly Established the ESG Management Committee
For steady implementation of ESG management, we have established a new committee where external General Meeting of Shareholders experts participate, as well as a system for regular reporting to the Management Meeting and the Board of Appointment/ Appointment/ Appointment/ Directors. Dismissal Dismissal Dismissal Auditing Reporting NYK Head Office Audit and Supervisory Board Board of Directors Independent Auditors 2 Internal and 2 Independent Outside Audit 5 internal directors and 3 independent and Supervisory Board Members outside directors (Accounting auditors) Board of Directors Reporting Accounting NEW Advisory Appointment/ audit Nomination Advisory Dismissal/Auditing Discussion/Reporting Management Meeting Committee Chairman: Committee Chief Outside Director Establishment of a new President Proposal/Reporting Reflecting Nomination Advisory (Representative Director, President Compensation ESG Management Cooperation and Chief Executive Officer) Committee ESG Management Committee Advisory Committee ESG yardsticks Committee Compensation Advisory Management Meeting Principal Committees Related to Internal Control Committee Internal Control Committee Checking and evaluating Reporting/Investigating Instruct/ ESG the progress of the NYK Reporting Risk Management Committee Executive Supervision Reflecting ESG factors in Management Compliance Committee officers Group ESG Story Meeting of Executive Officers nomination ad compensation Executive Committee Overseeing Committee Reporting 29 Executive Officers Establishing Companywide Thorough Law Compliance Ensuring diversity ESG policies and goals Internal Auditing Reflecting ESG factors in Groups at Management Internal Audit Departments at Headquarters Co-opting external experts Operational officer compensation head office Promotion Chamber and checking direction Group companies Execution System Group
Activities in Fiscal Year 2020 Toward the development of governance that accelerates ESG management Maintain and enhance the expertise of members of the Board of Directors Review of director compensation: Compensation Advisory Committee launches deliberations on state of director Deliberate ESG issues at meetings of the Board of Directors compensation. Revised director compensation determination policy based on enforcement of the revised Companies Act Incorporation of ESG assessments into officer compensation Establishment of governance system: The Governance Committee has completed a two-year monitoring program. Newly established the ESG Management Committee for steady execution of ESG management Reflection of ESG perspectives in the risk management system Efforts to Improve Functionality of the Board of Directors Nomination Advisory Committee and Compensation Advisory Based on the self-evaluation questionnaire for all of the board members that has been Committee, and Performance-based Remuneration Program conducted since 2016, the following improvement measures listed as issues were implemented. Nomination Advisory Committee Composition of Each Committee To secure sufficient discussion time …Internal Committee Chairman : The Chief Independent Outside Director To improve explanations and material contents on the execution side …Independent Compensation Advisory Committee Members : Chairman, President, Independent Directors (2) Selection and discussion of important themes other than individual items … Independent Directors have majority 2002 2008 2021 Introduction of Performance-based Stock Remuneration Program (24) Reduce (16) Reduce (8)…Plan Introduced a highly transparent and objective Performance-based Remuneration Program for in stages in stages the Board of Directors, etc. from 2016 Aim：Motivate to contribute to sustainable growth and share interests with shareholders Structure：Stocks to be delivered after a certain period based on achieving business performance goals 3 years extension to fiscal 2021 was resolved at the Board of Directors held in March 2019 Ratio of independent outside directors…37.5% (3/8) Items for comparing Assessment performed each fiscal year and achievement level points assigned annually ※Total number of directors, including 4 Audit and Stock equivalent to the st 3rd yr 2021 Supervisory Board Members (including 2 Outside Audit and Medium-term Management Plan 1 yr 2nd yr assessment point Supervisory Board Members) : 12 coefficient are granted (Plan) Initial Performance Prediction Ratio of independent outside directors…41.7% (5/12) after the final fiscal year Previous Fiscal Year Stock Ratio of female directors…25% (3/12) Performance Accumulation NYK Fact Book Ⅰ 2021 Businesses Business Corporate 28 Evaluation by Outside Stakeholders Ⅰ and Strategy Segment Data Information
The Dow Jones Sustainability Index (DJSI)* recognizes companies that exceed certain Selected for Dow Jones Sustainability standards for sustainability using detailed research to assess their economic, environmental, and social performance. Index for 18th consecutive year * The DJSI is an investment index jointly operated by S&P Dow Jones Indices LLC, a U.S.-based investment research firm, and RobecoSAM AG, a Switzerland-based firm that conducts CSR research and ratings.
The FTSE4Good Index* is one of the two leading indexes for investors who are concerned Selected for FTSE4Good Index for about corporate social responsibility. The other major index is the DJSI. the 18th Straight Year * FTSE4Good Index: Launched by the UK-based FTSE Group, which is jointly owned by the Financial Times and the London Stock Exchange.
NYK has been included in the MSCI ESG Leaders Indexes, which are internationally Included in the MSCI ESG leading stock indexes for socially responsible investing. Developed by U.S.-based MSCI Leaders Indexes Inc., the MSCI ESG Leaders Indexes recognize companies that are particularly outstanding according to environmental, social, and corporate governance criteria.
NYK have been added to the A List by CDP*, an international environmental NPO, putting us in their highest possible tier of rankings for leading global companies in climate change response. Selected for CDP’s A List, the CDP has also selected NYK for their Supplier Engagement Leaderboard. Leaderboard is maximum possible rank, and its the highest rank in their Supplier Engagement Rating, where they select companies Supplier Engagement Leaderboard excelling in actions taken against climate change across the entire supply chain. (highest level of assessment in supplier engagement) *The CDP (formerly Carbon Disclosure Project) is a non-profit organization calling on companies and local governments to make disclosures related to climate change action, protection of water resources, forest conservation, and other actions against environmental problems, and to take action through these, based on requests from institutional investors, companies, and organizations around the world with a high interest in environmental issues. NYK Report 2020 integrated report selected as Outstanding Integrated Report and Highly Improved NYK Report 2020 was selected as Outstanding Integrated Report and Highly Improved Integrated Report by a domestic stock management firm employed by the Government Integrated Report for a fourth Pension Investment Fund of Japan. consecutive year (GPIF domestic stock management institution) The S&P/JPX Carbon Efficient Index is designed to highlight and weight constituent members from companies in the Tokyo Stock Price Index (TOPIX), an index Re-selected for the S&P/JPX Carbon representative of trends in the Japanese market, based on disclosures of environmental Efficient Index information and carbon efficiency (carbon emissions per sales). NYK has been continuously selected as a constituent member of this index, as it has been since the index's creation in September 2018. NYK Fact Book Ⅰ 2021 Businesses Business Corporate 29 Evaluation by Outside Stakeholders Ⅱ and Strategy Segment Data Information
NYK has been included in three new ESG indexes, the first being the FTSE Blossom Japan Index created by global index provider FTSE Russell, and the two others being NYK Included in Three ESG Indexes the MSCI Japan ESG Select Leaders Index and the MSCI Japan Empowering for GPIF Women Index created by MSCI. The Government Pension Investment Fund for Japan, one of the world’s largest pension funds, has selected these three indexes as benchmarks for its ESG investment strategy.
NYK has been certified as a Health & Productivity Management Outstanding Organization for the fifth consecutive year. This award recognizes corporations with best practices in health management in cooperation with insurers and founded on Certified as a Health & Productivity initiatives for health promotion as advocated by the Nippon Kenko Kaigi (Japan Management Outstanding Organization for Health Council)*. the fifth consecutive year *The Nippon Kenko Kaigi is an organization seeking to, with full government support and with cooperation from private sector organizations, carry out activities effective for the extension of health life expectancies of and appropriate medical care for residents of Japan.
Selected as an SOMPO NYK has been selected as a constituent stock for the SOMPO Sustainability Index Sustainability Index stock 2020 (formerly SNAM Sustainability Index).
NYK has been certified by the Tokyo metropolitan government as a Tokyo Sports Certified as a Tokyo Sports Promotion Promotion Company for the fourth consecutive year. This year, the Company Company for the fourth consecutive year received accolades for its ingenuity during the pandemic, which included using online resources to coordinate the company’s sponsorship of its in-house charity Run+Walk, an event that has been held every year since 2017.
Given Outstanding Award under the 2020 NYK received the Outstanding award for 2020 Internet IR in the Internet IR Awards Internet IR Commendation Awards (ninth sponsored by Daiwa Investor Relations Co., Ltd. consecutive year)
NYK Fact Book Ⅰ 2021 Businesses Business Corporate 30 History of NYK Group and Strategy Segment Data Information
History Global Logistics Matter Bulk Shipping Matter Management Plan Matter Others
Yubin Kisen Mitsubishi Kaisha and Kyodo Unyu Kaisha merge on September 29 to form Nippon 1999 Liner Division and Car Carrier Division obtain ISO 9002 certification. 1885 Yusen Kaisha (NYK); new company inaugurates operations on October 1 with a fleet of 58 steamships. 2000 NYK Logistics (China) Co. Ltd. established. 1945 Only 37 vessels, totaling 155,469 gross tons, remain after World War II. 2001 NYK Shipmanagement Co. Ltd. established in Singapore. 1951～1957 Resumed liner services to Bangkok, New York, Seattle, Europe and others. 2002 NYK (including chartered fleet) obtains ISO14001 certification, world’s first for a shipping company.
1959 Crude Oil Tanker, Tanba Maru, commissioned 2003 Invests in Dalian Port Car-carrier Terminal. 1960 Iron Ore Carrier, Tobata Maru, commissioned. All NYK logistics subsidiaries uniformly rebranded as “NYK Logistics.” 1962 World’s first large LPG carrier, Bridgestone Maru commissioned. 2004 MTI (Monohakobi Technology Institute) established for the development of new technology. NYK and Mitsubishi Shipping Co. Ltd. merge; newly enlarged NYK Group owns 153 vessels of 1964 2,287,696 deadweight tons. 2005 Nippon Cargo Airlines (NCA) becomes a consolidated subsidiary of NYK. World’s first chip carrier, Kure Maru, commissioned. Luxury cruise ship Asuka II to cover Japanese market began service. Hakone Maru, Japan’s first fully containerized ship, begins service on new California route. 2006 1968 Local trade headquarters in Sao Paulo established for container transport operations for South Near Seas and domestic coastal services transferred to Kinkai Yusen Kaisha Ltd. Africa and Central/South America service routes 1969 Car Carrier, Toyota Maru No.5, commissioned. 2007 NYK-TDG Maritime Academy opens in the Philippines.
NYK Line (Hong Kong) Ltd. and NYK (Thailand) Co. Ltd. established. Emergency Structural Reform Project “Yosoro”. 1971 Container service to Europe begins. 2009 Exploratory design for NYK Super Eco Ship 2030. NYK, three other Japanese shipping companies, and All Nippon Airways Co. Ltd. established 1978 Nippon Cargo Airlines (NCA). Participation in project of ultra-deepwater drillship to be chartered by Petrobras. NYK Line (Singapore) Pte. Ltd. established. 1983 Headquarter function of Liner Trade segment was transferred from Tokyo to NYK Group South Asia LNG shipments from Indonesia to Japan initiated. Pte. Ltd. in Singapore. Double-stack container train service begins between Los Angeles, Chicago, and Cincinnati in 1985 Yusen Logistics established to integrate the NYK Group’s logistics. cooperation with Southern Pacific Transportation. 2010 NYK Line (North America) Inc. established. Two module carriers equipped with an Innovative air-lubrication system delivered. 1988 Hong Kong Logistics Center completed. NYK invested in Knutsen Offshore Tankers ASA and entered into offshore shuttle tanker business. NYK Bulkship (USA) Inc., and NYK Bulkship (Europe) Ltd. established. 1989 2011 NYK participated in FPSO business for Petroleo Brazileiro S.A. in Brazil. NYK Line (Europe) Ltd. Established. Bangkok, Los Angeles, and Sydney logistics centers open. 2012 NYK jointly participates in Wheatstone LNG project in Australia. 1990 World-class luxury cruise ship Crystal Harmony begin service. Nippon Liner System Co. Ltd. Acquired. 2013 NYK Bulk & Projects Carriers Ltd. began operations.
Los Angeles and Oakland container terminals open. 2015 Issued Corporate Governance Guidelines 1991 Laem Chabang (Thailand) Container Terminal opens. NYK announces the full-acquisition of Yusen Logistics to make it a wholly owned subsidiary. NYK Line (Australia) Pty. Ltd. and NYK Shipping (N.Z.) Ltd. established. 2017 THE Alliance started services. 1992 Kaohsiung (Taiwan) Container Terminal opens. Liner service begins between the west coast of South America and Europe. New medium-term management plan, “Staying Ahead 2022 with Digitalization and Green”, released. 1993 Double-hull tanker Takamine Maru completed. 2018 OCEAN NETWORK EXPRESS PTE. LTD. started offering service. NYK Line (Deutschland) GmbH, NYK Line (Benelux) B.V., and NYK Line (Sverige) AB established. 1994 NYK Promotes Decarbonization through Exploratory Design of NYK Super Eco Ship 2050. Kobe and Yokohama container terminals open. 1995 NYK Line (China) Co. Ltd. established. 2019 Founded MarCoPay as an electronic currency operating company 1996 LNG Shipments from Qatar to Japan initiated. Kaguya became the first vessel in Japan to conduct the ship-to-ship method for LNG bunkering NYK and Showa Line Co. Ltd. merge, adding three owned vessels of 549,031 deadweight tons 2020 Construction completed on SAKURA LEADER, first LNG-fueled car carrier in Japan 1998 and 75 chartered vessels of 6,140,134 deadweight tons to the shipping lineup. Introduction of NAV9000, a rigorous self-imposed safety management system NYK Fact Book Ⅰ 2021 Businesses Business Corporate 31 Investor Information (As of March 31, 2021) and Strategy Segment Data Information
3-2, Marunouchi 2-chome, Chiyoda-ku, Tokyo 100-0005, Japan Principal Shareholders Head Office Phone: +81-3-3284-5151 Web site: https://www.nyk.com/english/ Shareholder Number of shares held Closing Date The Company’s books are closed on March 31 each year. The Master Trust Bank of Japan, Ltd. (Trust Account) 15,556,300
Ordinary General The ordinary general meeting of shareholders is held in June each Custody Bank of Japan Ltd. (Trust Account) 9,312,800 Meeting of Shareholders year. Mitsubishi Heavy Industries, Ltd. 4,103,831
Number of authorized shares: 298,355,000 Meiji Yasuda Life Insurance Company 3,447,326 Common Stock Number of issued and outstanding shares: 170,055,098 Custody Bank of Japan Ltd. (Trust Account No.7) 3,004,900
NYK’s shares are listed for trading on the following stock Tokio Marine and Nichido Fire Insurance Co., Ltd. 2,894,578 Stock Listing exchanges: the first sections of Tokyo THE BANK OF NEW YORK MELLON 140044 2,621,047 STATE STREET BANK WEST CLIENT – TREATY 505234 2,456,812 Number of Shares per Unit The Company’s stock is traded in units of 100 shares each. Custody Bank of Japan Ltd. (Trust Account No.5) 2,425,900
Custody Bank of Japan Ltd. (Trust Account No.6) 2,152,700 Mitsubishi UFJ Trust and Banking Corporation Contact information: Mitsubishi UFJ Trust and Banking Corporation Share Registrar and Transfer Agency Department Stock Price Range (Tokyo Stock Exchange)* （yen） 1-1 Nikko-cho, Fuchu-shi, Tokyo Special Management of Accounts Mitsubishi UFJ Trust and Banking Corporation Transfer Agency Department 4,500 Shin-Tokyo Post Office, PO box No.29, Tokyo, 137-8081, Japan 4,000
The Company’s public notices are available through electronic 3,500 distribution. https://www.nyk.com/ir/stock/koukoku/ 3,000 Public Notices However, in the event that electronic distribution is impossible, due to an accident or other unavoidable circumstances, the Company’s 2,500 public notices will appear in the Nihon Keizai Shimbun, published in Tokyo, Japan. 2,000 Deloitte Touche Tohmatsu Independent Auditor Marunouchi Nijubashi Building 1,500 3-2-3 Marunouchi, Chiyoda-ku, Tokyo, Japan 1,000
Ratings 500
0 (Long-term Issuer Rating (outlook)) BBB+ (Stable) Rating and Investment Information, Inc. 4/1 7/1 10/1 1/1 4/1 7/1 10/1 1/1 4/1 7/1 10/1 1/1 2018 2019 2020 2021 Japan Credit Rating Agency, Ltd. (Issuer Rating (outlook)) A- (Stable)
Moody’s Japan K.K. (Issuer Rating (outlook)) Ba2 (Stable)
NYK Fact Book Ⅰ 2021 32
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