Ahead of their pending merger into a single carrier unit Japan’s carriers announced that they expect record losses for the fiscal year ending March 31, 2017.
After already reporting losses for the first three quarters of their fiscal year NYK Line and “K” Line are forecasting continued losses, bringing the overall loss for the year to record levels. MOL was profitable in the first three quarters but predicts to not make a profit overall for the year.
The carriers anticipate their merger, to be finalized in 2018, will improve profitability in the long-term.