May 07, 2007
TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that MOL Group companies The Diamond Ferry Co., Ltd. and Blue Highway Line West Japan have agreed to merge effective July 1. Both companies' shareholders have approved the merger. The companies will continue to develop their business as The Diamond Ferry Co., Ltd.
Profile of new company
Company name | : The Diamond Ferry Co., Ltd. |
Headquarters | : Ikushi 5-3-1, Oita-shi, Kyushu |
Paid-in capital | : ¥1 billion |
President | : Shin-ichi Takemoto |
Number of employees | : 318 |
Main business | : Hanshin-Nakakyushu ferry service (4 daily sailings of both in- and outbound lines, joint operation with Kansai Kisen) |
Objectives of merger
Since 2001, The Diamond Ferry Co. and Blue Highway Line West Japan have had common top management and a business tie-up, with positive effects through rationalization. With today's uncertain business environment such as bunker price trends, the companies must further reinforce their strength, so both companies agreed on a merger as the final stage of the tie-up, aiming to offer higher quality services to meet customer needs.
Corporate profiles (as of March 31st, 2007)
Company name | The Diamond Ferry Co., Ltd. | Blue Highway Line West Japan |
Foundation | May 20, 1968 | December 22, 1999 |
Headquarters | Ikushi 5-3-1, Oita-shi, Oita | Kamoike-shinmachi 5-6, Kagoshima-shi,Kagoshima |
Paid-in capital | ¥900 million | ¥100 million |
Shareholders | MOL (93% ownership) | MOL (wholly owned) |
Revenue (FY2005) | About ¥6.5 billion | About ¥4.5 billion |
President | Shin-ichi Takemoto | Shin-ichi Takemoto |
No. of employees | 217 | 101 |