K Line offloads stake in Daito Corporation

K Line offloads stake in Daito Corporation

Japan’s Kawasaki Kisen Kaisha, (K Line) has decided to sell the assets of its subsidiary Daito Corporation.

K Line said the deal is for efficient utilisation of business resources as well as to strengthen the company’s financial position.

The company expects to secure an estimated gain of JPY14.1bn ($134.2m) from the sale. The buyer is a Japanese corporation whose name is not disclosed.

Daito Corporation operates a series of businesses including towage, warehousing, container terminal, marine safety and ship agency.

Jason Jiang

Jason worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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