Succession of Minaminippon Shipbuilding's Business by Imabari Shipbuilding

January 12, 2018

This is to inform that Minaminippon Shipbuilding Co., Ltd. (President: Ryutaro Ikebe; headquarters: Usuki-shi, Oita Prefecture), its present shareholders-Mitsui Engineering & Shipbuilding Co., Ltd. (President: Takao Tanaka; headquarters: Chuo-ku, Tokyo; ownership: 25%) and Mitsui O.S.K. Lines, Ltd. (President & CEO: Junichiro Ikeda; headquarters:Minato-ku, Tokyo; ownership: 24%), and Imabari Shipbuilding Co., Ltd. (President: Yukito Higaki; headquarters: Imabari-shi, Ehime Prefecture) reached an initial agreement with respect to Imabari Shipbuilding's succession of Minaminippon Shipbuilding's business, effective April 1, 2018.

The concerned parties will hold further discussions to conclude the final agreement required for succession of the business.