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)
Osaka-Minamikyushu ferry service (one daily sailing of both in- and outbound lines) |
|
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 |
|
|
