NYK President Soga delivered his New Year’s greetings at a ceremony held on January 6 in Tokyo.

Happy New Year, everyone. I am pleased to welcome the new year together as members of the NYK Group. As we embark on this new year, I would like to share my thoughts with you.

Last year, on New Year’s Day, Japan’s Noto Peninsula was struck by a major earthquake, and in September, many lives were lost in the same area due to catastrophic heavy rains. Additionally, while not natural disasters, acts of violence continue to claim lives in Gaza and Ukraine. Reflecting on our mission to protect and support the lives and livelihoods of people worldwide, I am saddened by the sudden hardships confronting many. I sincerely hope for a swift return to peaceful, calm days, free from conflict and natural disasters.

The year 2024 was marked by extreme weather events, ongoing geopolitical conflicts, and significant political changes, including the defeat of ruling parties in major countries. Despite the tumultuous environment in nature, politics, and the economy, I am proud to report that our company is expected to achieve an operating profit of 410 billion yen, significantly surpassing last year's results, thanks to the tireless efforts and dedication of each of you. I extend my heartfelt respect and gratitude to all employees for their perseverance and resilience.

So, what will the year 2025 hold for us? The general consensus is that the economy in the United States, the backbone of the global economy, will continue to perform well under President Trump. While import tariffs may rise, as long as the U.S. economy remains strong, we do not anticipate a significant decrease in purchasing volume. Consequently, we expect some level of demand for transportation to be sustained, along with opportunities arising from deregulation policies. Furthermore, should the Russia-Ukraine conflict move toward peace—something we all hope for—the subsequent reconstruction demand in Ukraine could be substantial. Capturing such demand will present significant opportunities for our group. However, we must remain vigilant, as there are concerns that President Trump’s handling of immigration policies could lead to a decrease in the labor force and purchasing power of immigrants, which could adversely affect the economy.

On the other hand, countries like China are attempting to compensate for domestic demand stagnation through export expansion, while EU nations exhibit uneven economic strength. Despite a slight slowdown recently, countries like India and regions in Africa are expected to experience significant growth in the medium to long term. It is essential that we sharpen our awareness of the values that these nations and their people seek now and in the future so that we can identify business opportunities and contribute to the maintenance and expansion of our group’s operations.

As I mentioned earlier, extreme weather events have become increasingly frequent. Aside from earthquakes, we are witnessing unprecedented natural disasters worldwide, including super typhoons, hurricanes, torrential rains, floods, and wildfires. Our decision to explore LNG fuel for our car carriers began in 2016, coinciding with a year when the global average temperature was reported to have risen by 1 degree Celsius compared to the time of the British Industrial Revolution. This was also when Japan began to experience more noticeable natural disasters due to climate change. While switching to LNG would increase new-building costs by around 20% and reduce CO₂ emissions by approximately 30%, there were debates in the industry about waiting for the development of zero-emission ships like those powered by ammonia. However, driven by a fervent desire to reduce CO₂ emissions as quickly as possible in the face of these extreme weather events, we were the first to implement LNG fuel for our car carriers, thus changing the industry's outlook. We are now committed to reducing emissions by 45% by 2030 and achieving net-zero emissions by 2050. It is essential that we move beyond stiff terminology such as “societal demands” and “industrial requirements” and instead embrace a genuine desire to mitigate the extreme weather and natural disasters occurring in our immediate surroundings. This mindset will enable us to engage more passionately in our EX activities.

The fiscal year 2025 marks the third year of our current medium-term management plan. While we will continue to advance the deepening of our core businesses and the evolution of new ventures as planned this year, we particularly want to focus on CX/DX (Corporate Transformation / Digital transformation) as a supportive management strategy. Regarding CX, we need to explore how our colleagues worldwide can work more vibrantly and autonomously. We aim to break free from a mentality that merely follows directives from Tokyo and instead create an environment and systems that allow each region and country to autonomously enhance the corporate value of the NYK Group. This requires not only Japanese expatriates working in various countries but also increasing opportunities for motivated individuals from around the world to work in Tokyo and delegating authority for the management of local subsidiaries to regional management teams. We aspire to foster a structure that motivates our colleagues globally. Additionally, as mentioned in CX-NEO*, we wish to share with all our colleagues the invaluable contributions of our maritime professionals to our corporate value.

As I mentioned in a recent video message regarding DX, we aim to apply technology to promote labor-saving initiatives through DX effectively. Whether it’s the Nikuman Project**, the development of autonomous vessels, automated warehouses, or automated carpooling, we should also adopt a mindset that allows machines to handle tasks they can do, thereby encouraging each individual to innovate in our everyday processes.

This year is the Year of the Snake, and when combining the twelve zodiac signs with the 10 heavenly stems, it is referred to as "Kinotomi." The Year of the Snake symbolizes "regeneration and change," inspired by the image of the snake shedding its skin. The stem “Ki” also represents "flexible growth despite challenges." I hope that we can face difficulties with resilience and make significant progress through various transformations in 2025. Furthermore, this year marks the 140th anniversary of NYK’s founding, and we are planning celebrations that everyone can enjoy.

In closing, I wish all NYK Group employees and their families a healthy and safe year ahead. May 2025 be a year of steady growth for NYK and its group companies, free from accidents. Thank you for your attention.




* An internal project targeted at marine professionals. The aim is to enable seafarers to pursue their careers more positively by identifying and examining various challenges surrounding them, such as "work styles for marine professionals," "career paths," and "onboard environments." By reviewing and improving these aspects, the project aims to create an environment in which seafarers can be more passionate and proud of their work
and support the achievement of the medium-term management plan from the perspective of Corporate Transformation (CX).

** An internal project aiming to transform business and create a new way of working.