ClassNK announced that it had reached an agreement to establish a capital tie-up with Japan Marine Science Inc. at a meeting in Tokyo today. The tie-up agreement will see ClassNK take a roughly 20% stake in the Tokyo-based company, which will issue new shares in exchange for a capital investment from the classification society. ClassNK Managing Director Koichi Fujiwara will also take a position on Japan Marine Science’s Board of Directors.
According to ClassNK Managing Director Koichi Fujiwara, the tie-up presents an important step forward for both companies. “With this partnership, we will be able to take advantage of the expertise and specialized knowledge that both our organizations have developed over the years, and apply it to developing new solutions to the challenges faced by the maritime industry, including for example developing comprehensive IT systems to support vessel operations, and other advanced technology development.”
This investment in Japan Marine Science Inc. marks the first time in its history that ClassNK has invested money directly into an outside organization, and closely follows a change in ClassNK’s legal status this April, which has given the Society a greater range of freedom in its operations.