NYK Line expects to book a lower profit in /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 /Ritzau Scanpix
Japan’s Nippon Yusen Kabushiki Kaisha (NYK Line) expects a lower profit in /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.
In comparison, analysts had estimated in advance a result of JPY 765bn for /2023, according to Bloomberg News.
Moreover, the company expects revenue at JPY 2.3trn against the realized JPY 2.28trn last fiscal year.
NYK Line has activities within boats, container shipping, air freight, logistics as well as bulk shipping, which is the company’s largest business leg measured in revenue.
However, it is by far within container shipping that the company earned the most money in the past financial year.
In this area, NYK Line partakes in container joint venture Ocean Network Express (ONE) alongside carriers Mitsui OSK Lines and K-Line.
