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Japan's largest shipping line NYK is to spend an unprecedented US$13.8bn to
achieve the goals in its latest mid-term management plan.
New Horizon 2007 is the name of the plan to run from next month through to
the end of fiscal 2007, ending March 2008.
By that time NYK aims for revenues of ¥1.8trn (US$17bn) and a net profit of
¥95bn with a further goal of cracking the ¥2trn revenue mark by 2010.
By comparison, NYK recently revised its 2004 forecast to ¥1.6trn in revenues
and a net profit of ¥65bn.
For six years from fiscal 2005 to 2010, NYK will invest ¥1.38trn to boost
the fleet to 880 ships from the current 660 ships.
The group will also look to tie down most ships to long-term stable
contracts and cut costs "to correspond with a possible future declining
trend of the market and also to stabilise the income level" the firm said in
a statement |
