Press Release


Press Release

March 31, 2010

MOL Group Introduces
New Mid-term Management Plan GEAR UP! MOL

TOKYO - Mitsui O.S.K. Lines, Ltd. (MOL, President: Akimitsu Ashida) today announced that the Group has introduced its new mid-term management plan named "GEAR UP! MOL" covering three (3) fiscal years starting from April 2010 to March 2013.



Main Theme

Challenge to Creative New Growth - In the uncertain business circumstances surrounding the shipping industry, where the world
economy is still at a recovery stage and shipbuilding capacity is expanding worldwide, we, MOL, are focused on achieving the following goals:

  • 1) To be ahead of our competitors by:
    • Making further global commitments to the growing market;
    • Becoming the world leader in safe transportation;
    • Responding accurately to our customers' needs;
    • Strengthening our business intelligence.
  • 2) To remain focused on a return to a growth path by identifying and acting on solutions to the challenges facing the shipping industry, and especially introducing a strategy on the environment issues foreseeing the future development in such a field.

Under the main theme of "Challenge to Create New Growth", following three overall strategies are set, together with plans of consolidated financial figures for each of the three years (FY2010 - 2012) as well as target for FY2015:

  • "Recovery from Economic Crisis and Acceleration of Business Development in Growing Markets"
  • "Enhance Safe Operation"
  • "Environmental Strategy"

Profit Plan

(Unit: billion yen)

  FY2009(Forecast) FY2012(Plan) FY2015(Target)
Revenue 1,350 1,800 2,000
Ordinary Income 22 150 200
Net Income 10 110 130

(Assumption / Exchange rate: ¥90/US$, Bunker price: US$500/ton)

Fleet Scale

(Unit: No. of ships)

  The end of FY2009 The end of FY2012(Plan) The end of FY2015(Target)
Fleet Scale 895 1,050 1,200

Fleet Expansion Plan (Owned / Long-term chartered vessels)

(Unit: billion yen)

  FY2010-FY2012 FY2013-FY2015 FY2010-FY2015
Ships to Join 190 ships 160 ships 350 ships
Ships' value 1,200 900 2,100

This plan and target are including forward-looking statements as of today. The forward-looking statements are subject to a number of risks and uncertainties that include, but not limited to, world economic conditions, currency exchange rates. MOL therefore cautions readers that actual results may differ materially from these predictions.

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