NYK merging three technical research companies

Japanese shipowning giant NYK is to merge three of its research and technical subsidiaries.

Japan Marine Science, Yusen Navtec and NYK Engineering will be combined if shareholders approve at a meeting in May.

The new company name has not yet been decided, but it will be run by Koichi Akamine, current president of Japan Marine Science.

It is expected to start trading on 1 July.

NYK said: "The social structure and the business environment surrounding the NYK Group is dramatically changing.

"NYK would integrate the management resources of each company to increase efficiencies and create value in accordance with the group’s medium-term management plan “Staying Ahead 2022 with Digitalisation and Green.”