| April 25, 2003 |
| |
"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% |
|
| |
| 3. |
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 |
|
| |
| For more details kindly contact as follows: |
| Kawasaki Kisen Kaisha, Ltd. |
|
Mamoru Shozui, General Manager, Corporate Planning
Group |
Tel:+81-3-3595-5030 |
| Naigai Unyu Co., Ltd. |
|
|
Hiroyoshi Koseki, General Manager, General Affairs
Department |
Tel:+81-82-254-2421 |
| Shinto Transportation Co., Ltd. |
|
|
Masahiko Uchino, Managing Director |
Tel: +81-93-331-2161 |
|