Japan’s NYK Line is increasing its earnings forecast for the third quarter to reflect improved logistics profits but is set to be hit by extraordinary costs incurred in reforming its dry bulk business.
NYK's logistics business, which includes its liner subsidiary Ocean Network Express and its air transport arm, has exceeded expectations since its November forecast.
It now expects to report a recurring profit in excess of ¥60bn ($580m), in the current third quarter, and a cumulative result of more than ¥100bn.
