NYK further delays share exchange with ANA Holdings

Nippon Yusen Kabushiki Kaisha (NYK) (TSE:9101) announced another delay to the planned share exchange between its consolidated subsidiary, Nippon Cargo Airlines Co., Ltd. (NCA), and ANA Holdings Inc. (ANAHD). Originally slated for May 23, 2025, then moved to July 1, 2025, the execution date is now scheduled for August 1, 2025. NYK cites ongoing reviews by competition authorities, specifically the time required for review by authorities in China, as the reason for the further postponement. NYK affirms that there is no change in the intention of NYK, NCA and ANAHD to execute the Share Exchange. NYK anticipates a negligible impact on its consolidated business results because of the change.