MOL Unveils New Mid-Term Plan, the STEER FOR 2020

March 31, 2014

TOKYO-Mitsui O.S.K. Lines, Ltd. (MOL) today announced the new three-year midterm management plan that will take effect in April 2014.

MOL has been carrying out all plans in single-year plan “RISE 2013” with goals of restoring profitability and laying a strong foundation to return to a growth trajectory.

Recognizing that the group is well on its way to achieving those objectives, it envisioned what the MOL should look like in 2020, set the course to arrive there, and incorporated it into a three-year plan called “STEER FOR 2020“.

‘To steer’ means to take the helm of a ship and direct its course toward a specific destination. The Group intends to cut the rudder and steer straight on a course of high-quality, solid growth towards 2020, which is why the group chose that particular name for its plan.

On the occasion, MOL’s President, Mr. Koichi Muto said:

“Based on recognition of the business climate uncovered through wide-ranging research including visit to the front lines of business, the new plan marks a departure from conventional profit targets based on anticipation of soaring markets. Instead, we will steer toward new cargo flow opportunities to accumulate stable, long-term profits, while selectively, significantly allocating the necessary management resources. This commitment is reflected in the main theme, ‘Solid growth through innovative changes’.”

Profit Plan