Quest Aircraft Co., the Sandpoint-based aerospace manufacturer that produces the Kodiak light airplane, reports this morning that it has agreed to sell its assets to Tokyo-based Setouchi Holdings Inc.

Setouchi Holdings is one of the key holdings of Tsuneishi Group, which is involved in shipbuilding, transportation, and related industries. Another Tsuneishi subsidiary, Setouchi Trading Inc., has served as an authorized dealer of Kodiak aircraft for Japan and parts of southeastern Asia since last July.

Quest’s headquarters and manufacturing operations will remain based in Sandpoint, and its existing leadership team, led by Sam Hill, will continue to oversee and manage the organization, the company said in a press release.

Julie Stone, a Quest spokeswoman, says the company currently employs 184 people and plans to add more as production ramps up.

In the press release, Hill says Tsuneishi Group has extensive experience in manufacturing and other global capabilities that could benefit Quest.

“They also believe strongly in the Kodiak," he says, "and want to help us make Quest the leading manufacturer of single-engine turboprops in the world.”