Revisions to "K" LINE Vision 100 Medium-Term Management Plan

April 28, 2011

Revisions to "K" LINE Vision 100 Medium-Term Management Plan

- New Challenges -

"K" Line Group adopted "K" LINE Vision 100 in March 2008, a medium-term management plan that looked as far ahead as mid-2010's. Following the global economic downturn in the wake of Lehman Brothers' collapse and in response to drastically changed business circumstances, the plan was revised in January 2010 and reformulated as "K" LINE Vision 100 KV2010. In fiscal year 2010, the global economy recovered moderately, and "K" Line achieved financial results exceeding its initial plans. The global economy, however, remains unstable, and the effects of the Great East Japan Earthquake have only added to the uncertainty of today's business environment.

The Group recently revised its medium-term management plan further. The revision, "K" LINE Vision 100 - New Challenges, was adopted in response to structural market changes and to meet future growth in demand. The Group is now transitioning business operations in accordance with that plan.

"K" LINE Vision 100 - New Challenges leaves intact the Five Missions for achieving the Group's goal of "Synergy for All and Sustainable Growth." It also specifically sets forth two of the three missions of "K" Line Vision 100 KV2010 (the third, return to profitability in fiscal year 2010 and early resumption of dividend payments, having already been achieved). "K" Line is now working towards achieving those missions.

A.	Current Five Missions (to be continued):
	1. Activities to promote environmental protection
	2. Established safe ship operation and management structure
	3. Borderless management through the best and strongest organization
	4. Proper allocation of strategic investment and management resources
	5. Improvement and strengthening of corporate value and complete risk management

B.	Additional Two Missions:
	1. Expansion of stable earnings base and sustainable growth
	2. Strategic investment in response to structural market changes and growth in demand
	(Capital investment in organizing a flexible fleet and in new businesses)
	(Ongoing initiatives to improve and strengthen financial structure)

Principle numerical targets are as follows:

For further information, please contact:

Yasunari Sonobe

General Manager, Corporate Planning Group

Tel: +81-3-3595-5594 Fax: +81-3-3595-5175

Makoto Arai

General Manager, IR & PR Group

Tel: +81-3-3595-5189 Fax: +81-3-3595-5001

Kawasaki Kisen Kaisha, Ltd. ("K" LINE)

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