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    'K' Line sells Tokyo tugboat unit to strengthen balance sheet

    来源:    编辑:编辑部    发布:2018/03/28 14:12:32

    JAPAN's "K" Line has announced the sale of its tugboat unit, Tokyo-based Daito Corporation, to an undisclosed buyer at an undisclosed price.

    The business, founded in 1934, includes harbour transportation, a shipping agency and real estate, according to a company statement.

    "K" Line said its objective was to "seek efficient utilisation of business resources as well as to strengthen its financial position" as part of a review of assets in its possession. 

    Daito Corporation's value was determined through public bidding, and is deemed fair value reflecting an appraisal by a third party as well as market value, the company said.