Kawasaki Kisen Kaisha, Ltd. (K Line) issued a statement on Friday to officially announce that an email circulated by another logistics company suggesting the potential bankruptcy of K Line was ‘false’.
”It has become known to us that a certain NVOCC company had circulated false e-mails stating a potential bankruptcy of “K” Line to their customers. The message contained in the e-mails is unfounded without basis of any financial analysis and what is stated therein is false. We have strongly protested to the said company, who has admitted that the statement was false and promised to send to their customers a message to retract such statement. We are also considering to take any necessary legal measures that we may have against the concerned parties.” the statement says.
The company provides a link to view its financial condition proving that figures that messages sent by the said company to its customers are erroneous.
As of 30 June 2016, the Cash and deposits is JPY 214,304 mil（approx. US$ 2,082mil.）; Total net asset is JPY 330,392 mil (approx. US$ 3,210mil); equity ratio is 29.1%; and liquidity ratio is 154.5%, and moreover, we maintain the credit rating at the same sound and viable level as other shipping companies.
Source: K Line
