On 20 September, the false emails stating a potential bankruptcy of K Line were circulated by
APL Logistics Ltd (a Singapore based company) (“APLL”) to their customers. We are bound to say
that the message disseminated by APLL is unfounded without basis of any financial analysis and it
is a false statement. We have strongly protested to APLL at a meeting yesterday, who 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.
Our financial condition is sound as shown in the link below, more specifically: As of 30 June
2016, the Cash and deposits is JPY 214,304 mil; Total net asset is JPY 330,392mil; 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. It is evident also from these figures that the
messages sent by APLL to its customers are erroneous.
We have been providing and will assure to continuously provide our customers with our high
quality services, and thus we request you to keep good relation with us