Kawasaki Kisen Kaisha : Change of Directors and Audit & Supervisory Board Members

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April 28, 2016

Change of Directors and Audit & Supervisory Board Members

Kawasaki Kisen Kaisha, Ltd. ("K" Line) has decided following changes in its board meeting held today, subject to approval at the Ordinary General Meeting of Shareholders on June 24, 2016.

Directors Retirement
Present Position	Name	Scheduled New Position
Director,
Managing Executive Officer	Yukio Toriyama	Managing Executive Officer
Director,
Managing Executive Officer	Yutaka Nakagawa	Managing Executive Officer
Outside Director	Eiichiro Kinoshita
2. New Appointment
Scheduled New Position	Name	Present Position
Director,
Managing Executive Officer Outside Director	Yukikazu Myochin Akira Okabe	Managing Executive Officer Ｒ1）
Outside Director	Seiichi Tanaka	Counselor, Mitsui & Co.,Ltd

R1) Advisor, Tokai Tokyo Financial Holdings Inc.

Audit & Supervisory Board Members Retirement
Present Position	Name
Outside Audit & Supervisory Board Member	Fumio Watanabe
Outside Audit & Supervisory Board Member	Haruo Shigeta
2. New Appointment
New Position	Name	Present Position
Outside Audit & Supervisory Board Member Audit & Supervisory Board Member	Kozue Shiga Harusato Nihei	R2) R3）

R2) Partner, Shiraishi & Partners.

R3) Senior Advisor, Mizuho Research Institute Ltd

> Yu kikazu Myochin, Director ,Managing Executive Officer

Mr. Yukikazu Myochin has proven achievements in a wide range of sectors including Containerships, Corporate Planning and IR & PR and abundant management experience. Currently, he is demonstrating leadership as an officer in charge of Human Resources, IR & PR, Corporate Planning and Research. The Company judges that his capability and experience, etc. will contribute to the improvement of the decision making and supervisory function of the Company's Board of Directors. Accordingly, the Company nominated the candidate as Director.

Akira Okabe, Director

Mr. Akira Okabe, a candidate for Outside Director, worked for more than 40 years at Toyota Motor Corporation and over that time, he has led various new businesses to successful results in emerging countries, mostly in Asia. He then went on to become a director at that company and at a securities company, and thus he has long-standing experience in corporate management. The Company nominates the candidate as Outside Director of the Company so that it may utilize his experience and insight in the Company's management. Mr. Okabe has been providing various advices to the Company as a business advisor of the Company since April 2015 and he has been receiving remuneration from the Company. However, the amount is 100,000 yen per month. Mr. Okabe satisfies the criteria for independence provided by the Company, and if he is elected as a Director, the Company plans to designate him as an independent director pursuant to the regulations of the stock exchanges where its stock is listed.

Seiichi Tanaka, Director,

Mr. Seiichi Tanaka, a candidate for Outside Director, joined Mitsui & Co., Ltd. after completing a Master's degree in marine engineering at university. After a long service in the Ship and Marine Project Division he left the division in 2006 and from 2008 to 2014, he gained experience in corporate management, serving as a representative director of Mitsui & Co., Ltd. The Company nominates the candidate as Outside Director of the Company so that it may utilize his experience and insight in the Company's management. There is no special interest between Mr. Tanaka and the Company. Mr. Tanaka satisfies the criteria for independence provided by the Company, and if he is elected as a Director, the Company plans to designate him as an independent director pursuant to the regulations of the stock exchanges where its stock is listed.

> Kozue Shiga, Audit & Supervisory Board Member

Ms. Kozue Shiga, a candidate for Outside Audit & Supervisory Board Member, does not have prior experience of direct involvement in corporate management by methods other than serving as an outside director. However, she does possess expert knowledge and experience as a lawyer attorney, and she also has experience of having served as outside director and outside audit & supervisory board member of multiple listed companies. Accordingly, the Company nominates the candidate as an Outside Audit & Supervisory Board Member as it judges that she will perform effective auditing from an outside independent standpoint. There is no special interest between Ms. Shiga and the Company. Up until now, Ms. Shiga has had no relations with the Company, and as there is no possibility that conflict of interest may occur between Ms. Shiga and general shareholders, if she is elected as Audit & Supervisory Board Member, the Company plans to designate her as an independent director pursuant to the regulations of the stock exchanges where its stock is listed.

Harusato Nihei, Audit & Supervisory Board Member

Candidate for Audit & Supervisory Board Member Mr. Harusato Nihei has amassed experience in a broad range of areas while at Mizuho Bank Ltd., including international operations, and since 2008, he has served in the bank's management as an executive officer. Accordingly he possesses appropriate insight with respect to finance and accounting.

Although Mr. Nihei satisfies the requirements for Outside Audit & Supervisory Board Member pursuant to the Companies Act, considering he comes from the Company's main bank, the Company is not proposing him as a candidate for Outside Audit & Supervisory Board Member. As the main bank is a creditor of the Company, there is a possibility of certain aspects arising where its interests differ from those of ordinary shareholders. Nevertheless, the Company believes that welcoming an individual who comes from the main bank as an Audit & Supervisory Board Member will bring about improvement in corporate value and lead to profits for the ordinary shareholder as it expects that his ability to make observations from the viewpoint of a main bank will contribute to ensuring multifaceted examination of projects and that he will strictly fulfill his supervisory functions. Therefore the Company nominates the candidate as Audit & Supervisory Board Member. No special interests exist between the Company and Mr. Nihei.

For more details, kindly contact as follows:

Shingo Kogure, Executive Officer, General Manager, General Affairs Group Tel: [phone] Fax: [phone]