NYK will issue transition bonds (49th Unsecured Bond) in early April, our fourth issuance since our third transition bond issuance in April 2024. Details, including the issuance conditions, will be announced later.

Transition bonds are issued to facilitate the transition to a low-carbon society. The funds raised by the bonds will be allocated to projects aligned with our medium-term management plan, Sail Green, Drive Transformations 2026 — A Passion for Planetary Wellbeing , particularly focusing on long-term transition strategies that contribute to decarbonization, including investments in LNG-fueled vessels.

Since issuing the world’s first green bonds in the shipping industry in 2018 and subsequently Japan's first transition bonds in 2021, we have been committing to sustainable finance. We will continue to promote sustainable finance while raising awareness among various stakeholders about our growth strategy built on sustainable management.

Bond Summary

• Name: NYK Unsecured Corporate Bond No. 49 (Transition Bonds)
• Issuing Entity: NYK (Nippon Yusen Kaisha)
• Maturity: 5 years
• Issue Amount: 20 billion yen maximum
• Pricing Date: Early April 2025
• Use of Proceeds: New and existing projects referenced in "Vessel fuel conversion scenario towards 2050" from NYK's medium-term management plan, LNG-fueled vessels, etc.
• Second-Party Opinion: DNV Business Assurance Japan K.K
• Lead Managers: Nomura Securities Co. Ltd., Mitsubishi UFJ Morgan Stanley Securities Co. Ltd., Daiwa Securities Co. Ltd.
• Structuring Agent: Nomura Securities Co., Ltd.

Prior to the execution of the transition financing, NYK obtained a second-party opinion from DNV regarding NYK’s financial framework.

Our Framework and External Evaluation

• NYK Line Green/Transition Finance Framework
• Second-Party Opinion on Our Issued Framework

Vessel Fuel Conversion Scenario towards 2025 Released in Our Medium-Term Management Plan

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