News and Press Releases

January 29, 2010

In response to economic upheaval in the business environment surrounding the "K" Line Group following the collapse of Lehman Brothers in the fall of 2008, we have decided to make revisions to our initial medium-term management plan, and to move to business operations based on the newly reformed medium-term management plan entitled "K" Line Vision 100 KV2010. The newly established "K" Line Vision 100 KV 2010 adds three new missions to the five existing fundamental tasks of our main “Synergy for All and Sustainable Growth” theme, focusing business operations on profit structure reform.

“KV 2010” Missions

Current Five Missions (to be continued):

1. Activities to promote environmental protection
2. Established safe ship operation and management structure
3. Borderless management through the best and strongest organization
4. Proper allocation of strategic investment and management resources
5. Improvement and strengthening of corporate value and complete risk management
   

New Three Missions (to be added):

1. Move into the black and early resumption of dividends
2. Expansion of stable earnings base and sustainable growth
3. Improvement and strengthening of financial makeup

“KV 2010” Basic Strategies

1. Strengthening makeup of containership business
2. Restructuring business portfolio
   • Expansion of dry bulk business and strengthening of car carrier as earnings pillars
   • Strategic investment in growth areas
3. Adaptation to business environment fluctuations and strengthening of financial base
   • Screening and control of investments
   • Flexible response of fleet organization
   • Strengthening of financial base through building up stable earnings and investment control