Japanese ONE owner expects earnings decline

NYK Line expects to book a lower profit in 2022/2023 than in the preceding fiscal year, when the ownership of container carrier ONE made a significant contribution to the company’s result.

Photo: Stringer Japan/Reuters/Ritzau Scanpix

Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) expects a lower profit in 2022/2023 than in the fiscal year that ran until the end of March 2022, and for which the company presented its financial results on Monday.

In the last fiscal year, the company earned JPY 1.009trn (USD 7.7bn), however, it expects its profit to fall to JPY 720bn this year, according to Monday’s fiscal report.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

Reefer rates to peak in fall season, followed by slow decline

Rates on refrigerated containers, or reefers, have increased by 50% in the second quarter compared to the same period in 2021, with growth set to continue in the third quarter. 2023, however, will see rates slowly declining, forecasts consultancy Drewry.

Further reading

Related articles

Latest news

See all jobs