International shipping turns profitable

「In the ocean-going business, revenue increased substantially because the company received spot orders for cargoes bound for the Middle East in addition to its established transport of heavy construction equipment to China and Central Asia. As a result, revenue was ¥1,479 million, up ¥1,071 million year on year, or 361.9%, and operating profit was ¥61 million, up ¥20 million, or 150.5%, resulting in increases in both revenue and profit.」

「As a result, revenue was ¥835 million, down ¥654 million from the previous fiscal year, or 56.1%, and operating profit was ¥82 million, down ¥152 million, or 35.2%, resulting in lower revenue and profit.」

「The coastal shipping business continues to face a severe freight-rate competition environment. We will also seek to develop specialized and niche cargoes that offer high margins and are less affected by competition, and improve operating efficiency per voyage through combined transportation of cargo other than construction machinery.」

「As a result, revenue was ¥408 million, down ¥432 million year on year, or 48.6%, and operating profit was ¥41 million, down ¥111 million, or 27.0%.」

「As a result, revenue increased to ¥1,490 million, up ¥196 million from the previous period, or 115.2%, while operating profit rose to ¥235 million, up ¥134 million, or 232.8%.」

「As a result, revenue was ¥841 million and operating profit was ¥152 million.」

「As a result, revenue was ¥1,293 million and operating profit was ¥101 million.」

「In the ocean-going shipping business, the transportation contract for construction machinery, which had been the main source of earnings in the previous fiscal year, ended. During the current fiscal year, the company worked to secure spot cargo orders for triangular trade via China to Central Asia, in addition to its traditional routes in East Asia, including China, South Korea, and Taiwan. As a result, revenue fell 63.3% year on year to ¥1,007 million, while operating profit declined 72.2% to ¥73 million.」

「In the ocean-going business, the contract for transporting heavy construction equipment, which had generated substantial earnings in the same period of the previous year, ended. The company therefore focused on securing new cargoes, including triangular trade via China to Central Asia. As a result, revenue was ¥731 million, down 56.4% year on year, and operating profit was ¥77 million, down 66.5%, resulting in lower revenue and profit.」

「In the ocean-going shipping business, the transportation contract for construction machinery, which had driven strong performance in the previous period, ended. During the current period, the company focused on orders for triangular trade in addition to its traditional routes in Asia, including China, South Korea, and Taiwan. As a result, revenue was ¥399 million, down 54.6% year on year, and operating profit was ¥62 million, down 43.5%.」

「As a result, revenue increased substantially to ¥3,129 million, up ¥1,162 million from the previous period, or 159.1%, while operating profit rose substantially to ¥247 million, up ¥138 million, or 227.1%.」

「In the ocean-going shipping business, the company focused on transporting construction machinery and securing spot cargo orders. Combined with high freight rates for conventional vessels and a continued yen depreciation trend, this resulted in strong performance. Revenue therefore increased 154.9% year on year to ¥2,741 million, while operating profit rose 444.6% to ¥264 million.」

「In the ocean-going shipping business, although exports of the main cargo on the Far East Russia route were suspended, transportation of construction machinery using chartered vessels, new orders for spot cargo, and improved profitability of dollar-denominated ocean freight as the yen weakened combined to produce revenue of ¥1,677 million, up 185.1% year on year, and operating profit of ¥231 million, compared with ¥20 million in the same period of the previous year. The result was substantially above the previous year’s performance.」

「In the ocean-going shipping business, conventional vessel freight rates remained high, while the sharp depreciation of the yen increased revenue and profit margins on each voyage. As a result, revenue was ¥881 million, up 223.7% year on year, and operating profit was ¥110 million, compared with ¥9 million in the same period of the previous year.」

「As a result, revenue rose substantially to ¥1,966 million, up ¥770 million from the previous fiscal year, or 164.4%, while operating profit increased to ¥108 million, up ¥93 million, or 697.5%, resulting in significantly higher revenue and profit.」

「In the ocean-going shipping business, exports to Russia on the main Japan-Russia route performed well, partly reflecting a rebound from the decline in the previous period, as restrictions on economic activity to prevent the spread of COVID-19 were gradually eased in various countries. The Japan-Taiwan route also performed steadily as opportunities for spot transportation increased. As a result, revenue increased 19.8% year on year to ¥1,075 million, and operating profit rose 278.5% to ¥48 million.」

「In the ocean-going shipping business, the main Japan-Taiwan and Japan-Russia services generally performed well. However, some transportation projects were postponed or canceled against a backdrop of global supply chain stagnation, leading to lower handling volume. As a result, revenue fell 2.7% year on year to ¥588 million, but the solid performance of the main routes led to higher profit, with operating profit rising from ¥1 million in the same period of the previous year to ¥20 million and recovering substantially.」

「In the ocean-going shipping business, transportation volume on the Russia route, one of the main routes, increased as tire demand recovered in Russia. However, fewer voyages on the East Asia route, which mainly transports steel products and machinery, resulted in revenue of ¥272 million, down 3.8% year on year, and operating profit of ¥9 million, compared with an operating loss of ¥1 million in the same period of the previous year.」

「As lower handled volumes and smaller shipping lots took their toll, revenue fell to ¥1,195 million, down ¥501 million from the previous fiscal year, or 70.5%. Despite efforts to review company-vessel costs and reduce administrative costs, the decline in transport volumes had a substantial impact, and operating profit fell to ¥15 million, down ¥22 million, or 40.7%.」

「In the ocean-going shipping business, demand in Russia for exported cargo, the main cargo carried by the company’s own vessels, declined as the COVID-19 pandemic spread, reducing shipment lots and worsening operating efficiency. The company worked to collect spot cargo for transportation using vessels operated by other companies, but transportation opportunities declined. As a result, revenue fell 31.1% year on year to ¥897 million, and operating profit declined 64.2% to ¥12 million despite efforts to reduce administrative expenses.」

「As a result, revenue fell 29.4% year on year to ¥604 million. The company worked to reduce administrative expenses to offset the decline in profitability, but operating profit fell 96.8% to ¥1 million.」

「In the ocean-going shipping business, transportation volume on the Russia route, operated mainly with the company’s own vessels, declined as demand for tires, the main cargo, fell amid the COVID-19 pandemic. On the East Asia route, where steel products, machinery and other cargoes are transported using vessels operated by other companies, the number of voyages also declined. Revenue therefore fell 46.1% year on year to ¥282 million, and the business posted an operating loss of ¥1 million, compared with operating profit of ¥38 million in the same period of the previous year.」

「In the ocean-going shipping business, exports to Russia, the main cargo, remained firm, and the acquisition of new project cargo also contributed. The launch of the Philippines route in September resulted in higher revenue of ¥1,302 million, up 2.5% year on year. However, the route faced numerous challenges, including price competition with other companies in the industry and securing return cargo, and did not contribute to profit. As a result, operating profit declined 61.0% year on year to ¥35 million.」

「In the ocean-going shipping business, handling volume increased to 184 thousand tonnes, up 4.1% year on year, supported by firm exports to Russia and Southeast Asia and the acquisition of new project cargo. However, the difficult coastal shipping market began to affect the business environment. As part of its initiatives for the future, the company launched the Philippines route in September. As a result, including the launch of that route, revenue was ¥856 million, up 1.0% year on year, maintaining the previous year’s level. However, the impact of the new route, where costs preceded revenue, led to lower profit despite efforts to reduce administrative expenses, with operating profit down 26.1% year on year to ¥41 million.」

「In the ocean-going shipping business, the Russia route, operated mainly with the company’s own vessels, performed steadily. Transportation of imported equipment using vessels operated by other companies, including project cargo operations launched in April 2019, also progressed smoothly. As a result, revenue was ¥525 million, up 17.6% year on year, and operating profit was ¥38 million, up 11.1%.」

「In the ocean-going shipping business, exports to Russia and Southeast Asia, the main cargoes, remained firm, while handling of imported project cargo also progressed smoothly. Although fuel prices remained high, the increase in revenue offset this impact, resulting in revenue of ¥1,270 million, up 13.0% year on year, and operating profit of ¥91 million, up 59.2%.」

「In the ocean-going shipping business, handling of large imported project cargo substantially boosted performance, supported by firm exports to Russia and Southeast Asia. Although fuel prices remained high, the increase in revenue offset this impact. Conditions on the Taiwan route remained challenging, and the company worked to secure profitability by changing its operating model from the previous fiscal year. As a result, revenue increased to ¥847 million, up 16.1% year on year, while operating profit rose to ¥56 million, up 90.8%.」

「In the ocean-going shipping business, the Russia route performed steadily and project cargo shipments also progressed smoothly. Although the company had one fewer owned vessel than in the same period of the previous year, flexible vessel allocation in response to fluctuations in orders, using vessels operated by other companies, resulted in revenue of ¥446 million, up 8.8% year on year, and operating profit of ¥34 million, up 77.5%.」

「International shipping improved performance for the third consecutive period, helped by the rationalisation of unprofitable vessels and successful proactive cargo solicitation.」

「In the ocean-going shipping business, revenue was ¥1,124 million, up 13.0% year on year, supported by the solid performance of the Russia route, one of the main routes, the full-scale launch of project cargo shipments, and an increase in spot shipments of exported steel products. Despite higher fuel prices, the disposal of unprofitable vessels progressed, resulting in operating profit of ¥57 million, up 147.4% year on year.」

「As a result, revenue increased 17.9% year on year to ¥729 million. The company also worked to reduce administrative expenses, and operating profit improved to ¥29 million, compared with an operating loss of ¥20 million in the year-earlier period.」

「In the ocean-going shipping business, the Russia route performed steadily, while the full-scale launch of project cargo operations and an increase in spot shipments of exported steel products also contributed to performance. Revenue was ¥410 million, up 38.9% year on year, and operating profit was ¥19 million, compared with an operating loss of ¥11 million in the same period of the previous year.」

「As a result, revenue increased alongside the rise in transportation volume to ¥1,365 million, up ¥66 million year on year, or 105.1%. At the same time, we were able to reduce the increase in costs, resulting in operating profit of ¥35 million, up ¥30 million year on year, or 690.2%, and a second consecutive period of higher profit.」

「In the deep-sea shipping business, activity was strong on the Russia route, one of the principal routes. Revenue rose 16.5% to ¥994 million, and operating profit was ¥23 million, compared with an operating loss of ¥9 million in the previous corresponding period, helped in part by lower vessel management costs, resulting in improved earnings.」

「As a result, revenue was ¥618 million, up 8.2% year on year, but operating expenses also increased, and operating loss was ¥20 million, unchanged from the previous corresponding period. Profit therefore did not improve sufficiently.」

「In the international shipping business, revenue rose 8.0% year on year to ¥295 million as the Russia route performed steadily. Improved vessel allocation efficiency also improved earnings, although the business posted an operating loss of ¥11 million, narrowing from an operating loss of ¥19 million in the same quarter of the previous year.」

「As a result, revenue declined by ¥38 million year on year to ¥1,299 million, or 97.1% of the previous year, but operating profit was ¥5 million, compared with an operating loss of ¥48 million in the previous fiscal year. Profitability improved substantially, and the international shipping business, which had been a management challenge, became profitable.」