Report: Kawasaki Heavy Could Exit Shipbuilding

Japan’s shipbuilder Kawasaki Heavy Industries is considering whether it should pull out of the shipbuilding industry as it revised its full-year profit forecast, according to Bloomberg.

Namely, the company halved its forecasts as it now expects to see a net income of around JPY 16.5 billion (USD 162.7 million) for the Fiscal Year ending March 31, which represents a drop of 66 percent compared to an earlier forecast of around JPY 49 million.

Additionally, Bloomberg cited the company as saying that the loss for the half-year period ended September 30 would amount to around JPY 5 billion.

Full-year operating profit is expected to reach JPY 34 billion, down from the previously forecast JPY 70 billion, while the company’s revenue for the period could stand at JPY 1.51 trillion yen, against the earlier expectations of JPY 1.57 trillion.

The shipbuilder could reach a final decision on whether to close its shipbuilding business by the end of March, Reuters cited the company.

World Maritime News Staff

Share this article

Follow World Maritime News

In Depth>

Events>

<< Sep 2019 >>
MTWTFSS
26 27 28 29 30 31 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 1 2 3 4 5 6

Defence Safety Conference 2019

The Defence Safety Conference returns to London this October as the only event solely dedicated to enhancing safety across all aspects of defence.

read more >

Shipping Transformation Asia

Shipping Transformation Asia will provide a platform for future-focused discussion in the shipping,…

read more >

3rd MarSat Workshop

The MARSAT project wants to operationalise and standardise EO products and aims to develop…

read more >

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >