Mar 7, 2016

YKIP to become operating company of Keihin Port

(From the left) Takashi Takeichi, Chief of Tokyo Metropolitan Government Bureau of Port and Harbor; Norihiko Fukuda, Mayor of Kawasaki City; Fumiko Hayashi, Mayor of Yokohama City; Keiichi Ishii, Ministry of Land, Infrastructure and Transport; Masamichi Morooka, President of YKIP; Michio Kikuchi, Director-General, Ports and Harbors Bureau of MLIT; Masayuki Takada, Deputy Director, Kanto Regional Development Bureau of MLIT

Ministry of Land, Infrastructure, Transport and Tourism (MLIT) issued on March 4 a designation certificate to recognize as an operating company of Keihin Port Yokohama-Kawasaki International Port Corporation (YKIP), which is an integrated company of Yokohama and Kawasaki ports and had applied for the designation. The national government's investment enabled by this issuance is planned to be conducted within the month. YKIP will start operation in full swing next month, managing the CTs of Yokohama and Kawasaki ports integrally. because of the designation, as Hanshin International Port Corporation has already begun operation at Hanshin Port in the Kansai district, the framework will be established where Japanese government gives a significant boost to the strategic ports' operation both in the west and east of Japan.

The participants in the ceremony held on the issuance day included Fumiko Hayashi, Mayor of Yokohama, and Norihiko Fukuda, Mayor of Kawasaki.
After the ceremony, Morooka, Hayashi and Fukuda answered to the interviews by KP.

Asked about the possibility that Tokyo Port, not yet a member of YKIP, would join it, Morooaka clearly said, " It is basically a matter supposed to be left to its shareholders, namely cities of Yokohama, Kawasaki and the government of Japan. Still, on consideration of trends of the strategic port policy so far, I suppose that it will lead to efficient management of the ports if you could regard Keihin ports as one mass. So, we would like to discuss with Tokyo Port on that, and I think personally that a final goal for us would be to become one."

Capital and capital reserve of YKIP are Y230 million and Y220 million respectively. The company plans to accept investments from the government, Kawasaki city, private companies, etc., and will manage the CTs at both Yokohama and Kawasaki ports in a unified manner from next April on. After the increase, the capital is forecast to total about Y1 billion including Y450 million invested by Yokohama city.

Japanese government has budgeted Y500 million for investment in the managing company of Keihin Port in FY2015, possibly raising the ratio of investment by the government in the new company to more than 50%.

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