Retirement Age Raised to 65

MITSUI E&S Co., Ltd. (Headquarters: Chuo-ku, Tokyo; President and CEO: Takeyuki Takahashi; hereinafter "MITSUI E&S") announced today that it has raised the retirement age to 65 years old effective April 1, 2024, in order to provide active roles to senior employees and promote generational change in the organization.

To enhance the strength of our young workforce and secure talented human resources in preparation for a society with a decreasing population, and to respond to the increase of the age at which people begin receiving their social security pension, MITSUI E&S has extended the retirement age from 60 to 65 in order to give active roles to senior employees and maintain their motivation. In conjunction with this system, the Company will abolish the current senior expert system and redefine the roles of employees aged over 60 as "training younger employees and promoting, assisting, and guiding organizational missions while utilizing years of knowledge and experience."
In addition, we also introduce a position tenure system/retirement age system to ensure both generational change and organizational continuity.

To realize the Group's vision in 2030, "In the marine domain, we create a carbon-free society and resolve challenges induced by depopulation," MITSUI E&S is working to ensure the diversity of its human resources and reform its organizational culture and employee awareness.
The new personnel system introduced in April 2023 has already eliminated seniority-based elements and introduced mandatory personnel rotation. Through various measures, such as this retirement age extension and the position tenure/retirement system, the Company will further promote generational change and human resource mobility in the organization and continue to strive to realize an organization where people who take on challenges aggressively can play an active role even in a severe business environment.

The changes in the system

Contact details for this Press Release
MITSUI E&S Co., Ltd. PR Sect. Corporate Planning Dept.
TEL:+81-3-3544-3147