Toll Holdings Limited (ASX:TOL) has sold its Japanese logistics arm called KSU Logistics for $19.5 million.
Following the completion of the sale in May the transport and logistics company expects to generate a one-off gain of about $4 million.
Managing Director Brian Kruger says the divestment comes after a review of Toll Express Japan identified options to improve the structure and performance of the business.
Mr Kruger says the sale of KSU Logistics will free up cash through the reduction of capital employed in Toll Express Japan.
Toll Holdings generated a net profit of $176 million in the first half of the 2014 financial year.
