Nippon Yusen K.K., Asia’s largest listed shipping line, has been hit by production halts at quake- stricken Japanese automakers including Toyota Motor Corp., Nissan Motor Co. and Honda Motor Co, Bloomberg reports.
“There’s been an extremely sharp drop in shipments,” Yasumi Kudo, the Tokyo-based line’s president, told reporters in Tokyo yesterday. “We’re probably going to see further declines for the near future.”
Nippon Yusen has forecast a return to profit in the year ending today, partly driven by a 30 percent jump in vehicle shipment volume to 3.1 million. Japan’s three largest carmakers have cut production by about 242,000 units, according to figures from the companies, after a March 11 earthquake and tsunami triggered shortages in power, parts and raw materials.
Kudo said the company isn’t predicting a change in earnings from the plunge in car shipments and business disruptions caused by the earthquake. The company has forecast profit will be 50 billion yen ($600 million) in the year starting tomorrow.
Nippon Yusen will boost its car carrier fleet to 130 ships over the next six years, from a predicted 115 vessels currently, as it forecasts demand for car shipments will increase 5 percent annually, according to a statement from the company.
Nippon Yusen rose 0.3 percent to 325 yen at the 3 p.m. close of trading on the Tokyo Stock Exchange. It has fallen 9.7 percent this year compared with a 4.6 percent decline in the Nikkei 225 Stock Average.
“There’s been an extremely sharp drop in shipments,” Yasumi Kudo, the Tokyo-based line’s president, told reporters in Tokyo yesterday. “We’re probably going to see further declines for the near future.”
Nippon Yusen has forecast a return to profit in the year ending today, partly driven by a 30 percent jump in vehicle shipment volume to 3.1 million. Japan’s three largest carmakers have cut production by about 242,000 units, according to figures from the companies, after a March 11 earthquake and tsunami triggered shortages in power, parts and raw materials.
Kudo said the company isn’t predicting a change in earnings from the plunge in car shipments and business disruptions caused by the earthquake. The company has forecast profit will be 50 billion yen ($600 million) in the year starting tomorrow.
Nippon Yusen will boost its car carrier fleet to 130 ships over the next six years, from a predicted 115 vessels currently, as it forecasts demand for car shipments will increase 5 percent annually, according to a statement from the company.
Nippon Yusen rose 0.3 percent to 325 yen at the 3 p.m. close of trading on the Tokyo Stock Exchange. It has fallen 9.7 percent this year compared with a 4.6 percent decline in the Nikkei 225 Stock Average.