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Japan's Nippon Express 6-month profit up 9pc to US$183 million
NIPPON Express posted a nine per cent year-on-year increase in six-month operating profit to JPY22 billion (US$183 million), drawn on revenues of JPY960 billion, up four per cent, Nikkei reported.
The company's domestic slowdown manifested itself in the July-September quarter. Revenue dropped by 0.7 per cent on the year, marking the first drop in nine quarters, after rising 0.6 per cent in the preceding three months.
While shipments of consumer goods are holding strong, the opposite has been true for cargo movement in Japan's broad automotive industry. Domestic new-car sales fell year on year for a ninth straight month in September.
With automakers adjusting domestic production to weak demand, sea and ground shipments of automotive steel have decreased.
For the fiscal year ending next March, company is forecasting operating profit to grow six per cent to JPY54 billion on four per cent growth in revenue to JPY2 trillion.
The company's domestic slowdown manifested itself in the July-September quarter. Revenue dropped by 0.7 per cent on the year, marking the first drop in nine quarters, after rising 0.6 per cent in the preceding three months.
While shipments of consumer goods are holding strong, the opposite has been true for cargo movement in Japan's broad automotive industry. Domestic new-car sales fell year on year for a ninth straight month in September.
With automakers adjusting domestic production to weak demand, sea and ground shipments of automotive steel have decreased.
For the fiscal year ending next March, company is forecasting operating profit to grow six per cent to JPY54 billion on four per cent growth in revenue to JPY2 trillion.
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