Nippon Yusen Kabushiki Kaisha : NYK President Gives Annual New Year's Message

Jan. 11, 2022

The following is an excerpt from the New Year's speech made by NYK president Hitoshi Nagasawa as business opened for 2022.

Happy New Year!

Although everyone could not join us at today, I am still overjoyed to be able to welcome this New Year with you all in person again. I would like to say a few words to everyone in the NYK Group as we start another year.

Looking at the financial position of the NYK Group, as explained in the announcement of the financial results in November, we expect to achieve a new record-high consolidated recurring profit of 710 billion in fiscal 2021, greatly exceeding the initial forecast. Our group has benefitted from a favorable tailwind, but I truly believe this result is possible due to the efforts of everyone in the group who have worked hard to fully take advantage of this tailwind and carry out the daily work despite the disruptions caused by COVID-19. I would like to take this opportunity to express to you all my sincere respect and gratitude.

As we look at the global trends in 2022, there will likely be continued confusion and chaos. For example, in regard to the economy, there are numerous uncertainties, including the start of tapering in the United States during which the scope of the quantitative easing programs will gradually be reduced, fiscal policies in several countries directed at strengthening fiscal sustainability, and concerns about deteriorating conditions in Japan due to the sixth COVID-19 wave. Moreover, the geopolitical risks are increasingly centered on the growing confrontation between the United States and China and also Russia and Ukraine. As we move increasingly toward living with COVID-19, the situation contains a complex mix of factors, including how well the open international trading systems such as TPP (Trans-Pacific Partnership) and RCEP (Regional Comprehensive Economic Partnership) will function, making it difficult to foresee the main trends this year.

We need to carry out our daily work while remaining conscious of how the global trends will influence our group's businesses. This year, I ask you to be attentive to the situation, convey the information you obtain, and aim to become an organization that naturally embodies this type of communication. I also ask you to build trusting relationships through enhanced internal and external connections. To achieve this, starting with the basics, make an effort to greet those around you and express gratitude during your daily work.

I would like to mention again today the importance of ESG management.
Since announcing the "NYK Group ESG Story," various activities have been implemented with the aim of reforming awareness, and I feel ESG management is gradually becoming more firmly established within the group. By strongly promoting this ESG management, I am certain we will obtain customers' and society's trust and further solidify our group's status within society. Let's all combine our strength with the aim of becoming the world's top comprehensive global-logistics enterprise.

In order to achieve this, maintaining an awareness of safety in the workplaces at sea, land, and air will be extremely important. Safety is an immovable core tenet of the NYK Group, and I ask you to reconfirm your awareness that safety is the foundation upon which ESG management exists.

Lastly, I hope you will all find personal success in 2022 within the vast opportunities available throughout the NYK Group. Also, I wish for the continued health and safety of everyone working on the front lines of operations at sea, land, and air, as well as everyone working within the NYK Group and your families.

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