NYK Line said declining revenue and rising costs produced a net loss of 72.8 billion yen ($903 million) for its 2011 fiscal year ended March 31, but the Japanese carrier forecasts a profit for FY2012.
NYK’s liner shipping division reported an operating loss of $545 million, reversing a $387 million profit in fiscal 2010, as revenue fell 9.4 percent to $5.3 billion. The loss on recurring liner operations was $566 million, compared with a recurring profit of $351 million a year earlier.