Ocean Network Express signed definitive agreement to acquire 51% stake in Yusen Terminals, Inc. from Nippon Yusen Kabushiki Kaisha (TSE:9101) on December 27, 2022. In a related transaction, Ocean Network Express also signed definitive agreement to acquire 51% stake in TraPac LLC from Mitsui O.S.K. Lines, Ltd on December 27, 2022. The closing of the transactions is subject to the approval of the relevant authorities.