Toll sells KSU Logistics

As part of its program of streamlining its Japanese operations, Toll Group has announced the sale of Toll Express Japan subsidiary, KSU Logistics

Toll Group recently announced the sale of KSU Logistics – a third-part logistics specialist and subsidiary of Toll Express Japan (TXJ) – for approximately $A19.5 million.

The sale of KSU to logistics and construction company Konoike Corporation should generate a one-off gain of $A4 million, Toll Group says.

According to Toll Group’s Managing Director, Brian Kruger, the sale will help focus its Japanese operations.

“Last year, following a review of Toll Express Japan, we announced that a full sale of the business was unlikely in the near term, but that other options to improve the structure and performance of the business would continue to be explored,” he said.

“Since that time, Toll Express Japan has made good progress in improving its operational performance, and we look forward to seeing this continue.

“The sale will free up cash through the reduction of capital employed in Toll Express Japan and it will allow management to focus human and financial resources on improving the core express business.”

The sale is expected to be finalised on May 1, 2014.

Toll sells KSU Logistics

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