Top > News Releases > "K" LINE Group to Merge Two Logistics Companies
Sea Gate Corporation to start October 1, 2003

April 25, 2003
Kawasaki Kisen Kaisha, Ltd.

"K" LINE Group to Merge Two Logistics Companies
Sea Gate Corporation to start October 1, 2003

Kawasaki Kisen Kaisha, Ltd. ("K" LINE) takes pleasure in announcing that 2 of its subsidiaries, Naigai Unyu Co., Ltd. (Naigai) and Shinto Transportation Co., Ltd. (Shinto) will be merged on October 1, 2003 with the start of a new company named Sea Gate Corporation taking effect on the same day. Both companies are performing as logistics companies of the "K" LINE group in the fields of harbor transportation and logistics business based in the areas of the Seto Inland Sea and all of Kyushu.

1. Purposes of Merger

(1) to consolidate know-how and business assets accumulated within the two respective companies and unite them under a single management for realization of a wider range of logistics services covering the entire present and potential dimensions of West Japan

(2) to develop logistics business that thoroughly meets customer needs as an international logistics company in Chugoku, Shikoku and Kyushu areas

2. Outline of Merger

(1) Time-line of Merger

Board Meetings for Approval Shinto May 28, 2003, Naigai May 30, 2003
Merger Contract Signing May 30, 2003
Shareholder Meetings for Approval Shinto June 13, 2003, Naigai June 16, 2003
Date of Merger and Registry October 1, 2003

(2) Method of Merger
Consolidation take-over where Naigai will continue to exist and Shinto will be dissolved

(3) Ratio of Merger
One share (1) of Naigai will be allotted per each share of Shinto.

3. General Picture of Each Relevant Company

(1)Company Name Naigai Unyu Co., Ltd.
(Merging Company)
Shinto Transportation Co.,Ltd.
(Merged Company)
(2)Business Lines harbor transportation,
shipping agency,
domestic shipping,
tugging, warehousing,
forwarding
customs broker,
warehousing, shipping
agency, tugging
(3)Foundation Date December 1956 October 1962
(4)Address of Registered Office 1-1-7, Naka-dori, Kure,
Hiroshima
1-4-12, Nishi-Kaigan,
Moji-ku, Kitakyushu
(5)President Eiichi Suzuki Eiichi Suzuki
(6)Capital Amount ¥180 Million ¥90 Million
(7)Number of Employees 214 77
(8)Shareholder "K" LINE 100% "K" LINE 100%

43. Situation after Merger

(1)Company Name Sea Gate Corporation
(2)Address of Head Office Minami-ku, Hiroshima
(3)President Eiichi Suzuki
(4)Main Offices Head Office in Hiroshima;
Main Branch Office in Moji;
Branch Offices in Mizushima, Kure, Tokuyama and Fukuoka

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