“K” LINE CONSOLIDATES ACCOUNTING GROUP

“K” LINE CONSOLIDATES ACCOUNTING GROUP

“K” LINE CONSOLIDATES ACCOUNTING GROUP

   Kawasaki Kisen Kaisha Ltd. said it plans to reorganize and expand its accounting processing unit into a new wholly owned subsidiary, “K” Line Accounting and Finance Co. Ltd.

   The subsidiary will “embrace consolidated management of all group accounting systems and the further outsourcing of “K” Line's own accounting activities,” the company said.

   The move is a part of “K” Line's five-year business plan known as New “K” Line Spirit for 21 (New K-21). The company will also change the name of its present wholly owned subsidiary, “K” Line Management Service, Ltd., into KAF, establishing it as the contracted source for accounting functions.