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MOL president voices concerns on box trade profits

Article-MOL president voices concerns on box trade profits

MOL president voices concerns on box trade profits

Tokyo: In his traditional New Year address published Friday the president of MOL, Akimitsu Ashida (pictured) warned 2008 will be a tough operating environment for his container division.
'[M]y area for concern is the containership business. Consolidated ordinary income of this segment, including terminal business, is projected at about ¥10 billion for this year, but losses on the North America route will be significant and total results of all routes will not be able to break even. This segment faces a severe situation that, if left unprofitable, threatens its viability. 2008 is a crucial year for the turnaround of the containership business. We set forth an achievable target of at least 5% in ordinary income margin for this segment, and are building a structure that can generate stable profits of ¥50 billion in consolidated ordinary income by 2010. This year, we must take a solid step toward the target,' Asida said.  [07/01/08]

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