Japan's three major shipping companies expect their consolidated net profits in fiscal 2025 to plunge by around 50% to 70% from the previous year, projecting a drop in transport of automobiles and other goods due to U.S. President Donald Trump's tariff measures.
The firms also expect that freight rates in the container shipping division, which has driven their earnings, will go down in the fiscal year ending in March 2026, reflecting an increase in new shipbuilding worldwide.
Net profit is forecast to fall 47.7% to ¥250 billion at Nippon Yusen, 60% to ¥170 billion at Mitsui O.S.K. Lines and 67.3% to ¥100 billion at Kawasaki Kisen Kaisha, according to their earnings reports released by Thursday.
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