[Nippon Yusen] Third-Party Allotment Investment and Subsidiary Transformation | July 2026

Overview of Subsidiary Change

Nippon Yusen aims to participate in the liquefied natural gas (LNG) business through its UK-based subsidiary DGMO by undertaking a third-party allotment investment, planning to make DGMO a designated subsidiary. The investment amount is approximately $210 million, scheduled for August to September 2026. DGMO is a wholly owned subsidiary of Mitsubishi Corporation, with capital stock of approximately $30,535,001. Following this investment, the ownership percentage of voting rights in DGMO will be 87.4%. There are no capital or personnel relationships, and while the company's performance will be monitored to assess the impact of capital input, it is expected to have a slight impact on the current period's consolidated performance.

Future Outlook and Impact

The impact of this investment on Nippon Yusen's consolidated performance for the fiscal year ending March 2027 is deemed to be limited, and additional disclosure will be made if necessary. The investment will be executed upon the approval of relevant authorities and is part of the company's capital policy. As part of future business development and resource strategy, there is a goal to strengthen the LNG business.