NYK president Tadaaki Naito marked the 133rd anniversary of the group's founding by addressing employees at its head office in Tokyo on October 2 where he touched upon the plan to liquefy assets to obtain the capital necessary to develop and transform its business
NYK president Tadaaki Naito marked the 133rd anniversary of the group's founding by addressing employees at its head office in Tokyo on October 2 where he touched upon the plan to liquefy assets to obtain the capital necessary to develop and transform its business. Mr Naito said that 'to carry this out, we need to revise the entire group. We have reached a point where we have to use the internal reserves accumulated by our predecessors since the founding of the company.
'We will also actively work to forge ahead with digitisation and green initiatives,' adding that 'there is a need to utilise digital technology to streamline business management and reduce costs, and as a means to flexibly respond to changing customer needs.
'Our green initiatives, which seek to reduce the burden on the environment, have three objectives. First is 100 per cent compliance with stricter environmental regulations. Second is energy conservation. And third is the discovery of new business opportunities stemming from the changing environment.
'By working proactively instead of reactively, we must create a corporate structure that enables us to respond to the inevitable shift to a green society'.
The group's president went on to say that 're-establishing group governance is one of the most important challenges facing the group.
'In October 2016 Nippon Cargo Airlines received a warning from Japan's Ministry of Land, Infrastructure, Transport and Tourism regarding deficient aircraft maintenance. The problem unfortunately repeated and in July this year the ministry issued an administrative penalty. This was an extremely regrettable occurrence.
'It was thought that our compliance activities for antitrust and other laws were effectively being conducted company wide. I greatly regret that effective measures were not appropriately taken.
'Based on the awareness that maintaining social trust is an absolute requirement, I intend to re-establish reputable group governance,' he said.
