Eneos completes partial transfer of maritime transportation business

ENEOS Holdings (TSE:5020) announced the completion of the partial transfer of its maritime transportation business to NYK Energy Ocean Corporation (NEO), a subsidiary of Nippon Yusen Kabushiki Kaisha (NYK). The transaction, initially announced on July 8, 2024, involves ENEOS Ocean Corporation transferring its LPG carrier, chemical tanker, and cargo carrier operations to NEO, followed by the sale of 80% of NEO's shares to NYK. ENEOS HD maintains a 20% stake in NEO through ENEOS Ocean. ENEOS HD anticipates recording a gain of approximately JPY70 billion in consolidated operating income for the fiscal year ending March 2026 from the transaction. This strategic move aligns with ENEOS Group's long-term vision of achieving a carbon-neutral society and enhances capital efficiency through portfolio management. The transaction is valued at approximately JPY76 billion before final price adjustments.