Mitsui OSK Lines Ltd.

07/30/2024 | Press release | Distributed by Public on 07/30/2024 00:19

2024/07/30 Daibiru to Participate in Logistics Real Property Development Project in Nagoya Creating Synergy within MOL Group

July 30, 2024

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL; President & CEO: Takeshi Hashimoto) today announced that its group company Daibiru Corporation (President & CEO: Takashi Maruyama; Headquarters: Kita-ku, Osaka) is participating in a logistics real estate development project in Minato-ku, Nagoya. This is part of the Daibiru Group's domestic business strategy to investigate expansion of asset types, a key element of its medium- to long-term management plan 2035 "BUILD NEXT." The move will help Daibiru create synergies within the MOL Group, which is engaged in the logistics business, focusing on ocean transport.

rendering images of the Logistics Real Property Development Project in Nagoya

This development project is a frozen warehouse, which will meet the rising demand for frozen warehouse space stemming from the 2030 Fluorocarbon Emissions Control Act (Note 1), as well as increasing sales of frozen food resulting from demographic changes in Japan, specifically, more dual-income and single-person households. The installation of cutting-edge automation equipment in the warehouse will optimize space utilization, boost efficiency, and reduce labor costs. Please refer to the Daibiru press release(Note 2) for details.

Under the "BLUE ACTION 2035" management plan launched in fiscal year 2023, the MOL Group has positioned the group's business portfolio reform as its key growth strategy by increasing the weight of non-shipping and stable-profit businesses that cover the volatility of the shipping market, thus ensuring profitability even during shipping downturns.

(Note 1) 2030 Fluorocarbon Emissions Control Act:
Refrigerant equipment must be converted to natural refrigerants or alternatives for chlorofluorocarbon.

(Note 2) Daibiru press release

MOL Group 5 Sustainability Issues
MOL Group identifies "Sustainability Issues" (Materiality) as our key issues for sustainable growth with society through realization of the Group Vision.
We anticipate this initiative to contribute especially to the realization of "Safety & Value -Provide added value through safe transportation and our social infrastructure business-" and "Environment -Conservation for Marine and global environment-".