TOKYO (dpa-AFX) - Nippon Yusen Kabushiki Kaisha (9101.T, NPNYY, NYUKF), a Japanese shipping company, reported Thursday sharply lower profit in its first half with weak sales revenues. Further, the company trimmed fiscal year earnings outlook, but maintained sales revenue view.
In Tokyo, the shares were losing around 4% to trade at 4,895.00 yen.
For the first half, profit attributable to the owners of the parent declined 61.5% to 102.25 billion yen from 265.89 billion yen in the prior year.
Basic earnings per share were 239.34 yen, lower than 585.60 yen last year.
Operating profit declined 41.2% to 68.05 billion yen from 115.63 billion yen in the prior year.
Sales revenue fell 10.2% to 1.18 trillion yen from 1.32 trillion yen in the previous year.
Looking ahead for the fiscal year ending March 31, 2026, the company now expects attributable net profit to decrease 56 percent to 210 billion yen or 495.07 yen per share. Operating profit is now projected to drop 43.1 percent from last year to 120 billion yen.
The company previously expected attributable profit of 240 billion yen and operating profit of 140 billion yen.
Revenues for the year are still projected to decline 9.2 percent year-on-year to 2.35 trillion yen.
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