By Kosaku Narioka

Hitachi Transport System Ltd. said Friday that it is considering being taken private by KKR & Co. in a bid to achieve sustainable growth.

Hitachi Ltd., which holds a 39.9% stake in the Japanese logistics company, said it is mulling selling its stake in the affiliate.

The two companies made statements after Japanese business daily Nikkei reported that KKR plans to spend more than 600 billion yen ($4.67 billion) to take Hitachi Transport System private.

Both Hitachi Ltd. and Hitachi Transport System said nothing has been decided.

Hitachi has been selling its subsidiaries and affiliates to revamp its business portfolio in recent years.

Write to Kosaku Narioka at kosaku.narioka@wsj.com

(END) Dow Jones Newswires

April 21, 2022 20:47 ET (00:47 GMT)

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