Our company, Nippon Yusen Kabushiki Kaisha (“NYK”), as announced in the "Notice of Basic Agreement on Transfer of Shares in Consolidated Subsidiary" on March 7, 2023, entered into a certain basic agreement with ANA HOLDINGS INC. ("ANAHD") for a transaction to transfer all shares of Nippon Cargo Airlines Co., Ltd. ("NCA"), a wholly owned subsidiary of NYK (consolidated subsidiary), to ANAHD.

Today, NYK hereby announces that NYK has executed a definitive agreement with ANAHD whereby NYK and ANAHD have agreed to carry out the transaction for the transfer of all of shares in NCA to ANAHD through a share exchange (the "Share Exchange"), and upon the consummation of this transaction, ANAHD will become the wholly owning parent company and NCA will become the wholly owned subsidiary. 　NYK also hereby announces that NCA has executed a share exchange agreement with ANAHD regarding the Share Exchange.

As a result, NCA will no longer be one of our consolidated subsidiaries and will become a wholly owned subsidiary of ANAHD as of the effective date of the Share Exchange.

Please refer to the below link for further details.