Press Release

Yangzijiang Shipbuilding Group in China and Mitsui & Co., Ltd. to establish a shipbuilding joint venture

Mitsui E&S Shipbuilding Co., Ltd. ("MES-SC," Head Office: Tokyo, President and CEO: Tetsuro Koga), in partnership with Yangzijiang Shipbuilding (Holdings), Ltd. ("YZJ", Head Office: Jiangsu Province, Chairman: Ren Yuanlin, listed on the Singapore Exchange) and Mitsui & Co., Ltd. ("Mitsui", Head Office: Tokyo, President and CEO: Tatsuo Yasunaga), has entered into a shareholders' agreement to establish a new joint venture to operate a shipbuilding business. The partners plan to set up the joint venture by following the necessary procedures, including examinations.

The new company will aim to build a globally competitive shipbuilding business by combining YZJ's high production capacity, Mitsui's extensive sales capabilities and MES-SC's advanced technology.

Taking advantage of its technology that has been accumulated in the 101 years since its founding, MES-SC will continue to provide new value as a manufacturing company that meets the demands of a range of customers in the ship and marine industry.