NYK announces that the consolidated semiannual budget they will not weigh on extraordinary burdens for 1,9 billion dollars



Nippon Yusen Kaisha (NYK) has announced today that the financial results consolidated of the budget of the first semester of the current fiscal year anniversary, that will finish next 31 March, will not weigh on consisting negative extraordinary members. In particular, the Japanese shipowning group has announced that pairs to about 195 billion yen (1,88 billion dollars are estimated extraordinary burdens about) that pairs to 160 billion yen consist in a loss for reduction of the value to which relative pairs to 35 billion yen to contracts join to billetings for losses.

NYK has explained that to light of the been extended depression of the market of the shipping it is decided to record a reduction of the value of operating assets, with extraordinary burdens estimated pairs to about 100 million yen in the segment of the container vessels, to 85 billion yen in the segment of the ships portarinfuse and to 10 billion yen in that of the aerial transport cargo.

More specifically, relatively to the segment of containerized marine transport, NYK it has observed that the field is increasing object pressures because of the excess of offer of large portacontainer against a level of the hires that has touched an historical minim. Even if one previews that the market will show a recovery in the first half of the fiscal year that will have term on March 31, 2017 - has specified the shipowning group - the market indicators have not reached the waited for levels and, in the light of this, NYK has revalued its perspectives from a prudential point of view and, consequently, it has considered necessary to so record a loss of value as billetings for relative losses to contracts correlated with own container vessels.

Moreover NYK has found that the segment of the marine solid bulk transport continuous to being in crisis because of an excess of offer of tonnage and a question weak person, with a decline unprecedented beginning from the autumn of 2015. If the assumed countermeasures, as the demolition of old ships and more measured income than ships in the market - it has specified the Japanese group - have carried to a gradual improvement of the balance between supply and demand, however the market is being resumed to a slower rhythm regarding how much originally previewed reducing the probability of a resumption in the first semester of the fiscal year in course. Also in this case NYK it has opted for the recording of a loss of value and billetings for losses.

In the field of the aerial transport of the goods, in which the group work through the branch Nippon Cargo Airlines Co. (NCA), the group has remembered that the branch has decided to sell three aircrafts of property as part of the programmed structural reforms and, after to have estimated the consequent loss on the cessions, has reduced the book value of the aircrafts at the price of sale and the recorded one as loss of value. Moreover one previews that some aircrafts rental will not produce profits in the course of the remaining part of the duration of contracts.

The Japanese group has specified that such extraordinary burdens were not included in the relative forecasts to the semiannual budget and anniversary formulated in the end of July ( on 29 July 2016), esteem that relatively to the entire fiscal year that it will have term on March 31, 2017 previewed a net loss consolidated pairs to -26,5 billion yen on revenues pairs to 971,5 billion yen. NYK has specified moreover that, since in the consolidated financial statement the extraordinary burdens are eliminated, these will not have a profit impact the consolidated or losses.