Nippon Yusen Q1 profits plunge 53% on market headwinds

Nippon Yusen reported ordinary profit fell 52.5% to 59.8 billion yen for the quarter ended June 30, while revenues dropped 7.8% to 600.9 billion yen.

Operating profit declined 42.6% to 37.8 billion yen and net profit fell 52.8% to 52.1 billion yen.