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Japan's big three braced for weak results - Nikkei

Japan's big three braced for weak results - Nikkei

Tokyo:  Three major Japanese shipping firms will likely see double-digit falls in profits for the current business year ending in March, hit by sluggish global transport activity, a leading business newspaper said on Sunday.

Nippon Yusen Kaisha, which projected a 6 percent year-on-year increase in group pretax profit, will likely post a 10 percent fall to about 180 billion yen ($1.99 billion), the Nihon Keizai Shimbun reported without citing sources.

The Nikkei said Mitsui O.S.K. Lines is expected to report a 270 billion yen group pretax profit, some 10 percent below its earlier forecast, while Kawasaki Kisen Kaisha will likely log a 32 percent decline to about 85 billion yen. [19/01/08]