Nippon Express back on track
10 / 08 / 2011
JAPANESE logistics and airfreight forwarding player Nippon Express sees business is picking up this year, with a net profit of US$69.7 million in its fiscal first quarter compared with a net loss of $26.1 million a year earlier.
The Tokyo-based company’s group revenue showed no significant growth in the April-June quarter. Its group operating profit however surged 28.1 per cent to $91.8 million.
“The business environment surrounding the Japanese logistics industry remained harsh in the April-June quarter,” the company said. “Demand for international freight transportation was affected by the Japan Earthquake as exports slumped. Demand for domestic freight transportation was still on the decline.”
The company added that freight transportation demand internationally, especially in the rest of Asia, was strong in the April-June period.