NYK Line said it plans to make NS UNITED KAIUN KAISHA, LTD. a consolidated subsidiary through a tender offer for its shares, raising bulk carrier ordinary profit to more than 10% of consolidated total. The tender offer is expected to begin within the year, with the investment reportedly totaling approximately ¥120 billion.
NYK Line announced plans to acquire shares in NS UNITED KAIUN KAISHA, LTD. through a TOB (tender offer) and make it a consolidated subsidiary.
The company said the aim is to raise the share of ordinary profit from its bulk carrier business to more than 10% of group-wide ordinary profit, making its earnings structure less susceptible to fluctuations in container shipping market conditions.
NYK Line currently holds more than 18% of NS UNITED KAIUN KAISHA, LTD. and plans to invest approximately ¥120 billion to increase its stake to more than 80%. The tender offer is expected to begin within the year as it proceeds with making the company a consolidated subsidiary.