News and Press Releases

Notice of Transferring Subsidiary Company

Kawasaki Kisen Kaisha, Ltd. ("K" Line) announces today that it was approved by its board of directors that SAL Heavy lift GmbH (SAL), its subsidiary company, enters into agreement to ransfer its share to SALTO Holding GmbH & Co. KG. (SALTO).

Outline of the company to be transferred.

(1) Company Name SAL Heavy Lift GmbH
(2) Head Office Brooktorkai 20, 20457 Hamburg, Germany
(3) Representative Executive Chairman
Yutaka Nakagawa
(4) Main Business Owning of Heavylifter Vessels and Trans port of Heavy Cargoes
(5) Capital Eur 155,458,544.00
(6) Date Esablished May 9, 1980
(7) Main Shareholder and Share
Ownership Ratio
"K" Line Heavy Lift (Germany) GmbH 100% (Listed company's 100% owning subsidiary)
Relationship with
(8) Subsidiary
Capital Whole voting rights are held by the listed company's 100% owning subsidiary
Personnel One executive officer and two employee are engaged.
Business
Trans actions
some inves tment capital to aquire s hip as s ets are lent
(9) Subsidiary's consolidated business performance nad and cons olidated financial s tatus for the three mos t recent years (Unit : Eur 1,000)
Reporting period for Year Ended March 2015 March 2016 March 2017
Net Assets 97,201.17 72,333.31 △ 25,127.79
Total Assets 358,296.14 315,350.89 196,872.26
Net Assets per Share (Eur) 0.63 0.47 △ 0.16
Sales 201,594.23 151,617.72 133,626.67
Operating Profit 6,367.97 △ 17,846.98 △ 17,303.30
Ordinary Profit 4,508.49 △ 23,079.41 △ 17,356.96
Net Income 14,272.43 △ 24,867.86 △ 97,461.10
Net Income per Share (Eur) 0.09 △ 0.16 △ 0.63
Dividend per Share (Eur) - - -

for reference: as of 31 March 2017 Euro 1=Yen 119.79

Background

plan" in 2016 and has studied over the last fiscal year on how a sweeping reform of the company could be made. Upon giving careful considerations to the situation, it was decided that the best solution should be to transfer the business to SALTO.

Outline of the transferee

(1) Company name SALTO Holding GmbH & Co.KG
(2) Head Office Hermann-Hollerith-Strasse 10, 28355 Bremen
(3) Representative Dr.Martin Harren
(4) Main Business Acquisition and managing of investments in shipping business
(5) Capital Eur 10,000
(6) Date established 7th March 2017
(7) Consolidated NET capital Eur 10,000
(8) Consolidated total asset Eur 10,000
(9) Main Shareholder and Share
Ownership Ratio
Dr.Martin Harren (50.1%),
Peter Harren (49.9%)
(10) Relationship with Subsidiary Capital None
Personell None
Business None

It is NOT estimated that financial loss will be recorded in this fiscal year by this transaction. "K" Line's website URL http://www.kline.co.jp/en Note: The forecasts of financial results set forth in this document were calculated based on available information at the time of announcement.  Actual results may differ from the
forecast because of various factors such as future developments in the business environment.

170726-Notice-of-Transferring-Subsidiary-Company-03For further information, please contact: