Yusen Logistics posts soaring profits

The third-party logistics provider posted net sales of 359 billion yen for the nine months ended Dec. 31, 2015 and projects net sales of 480 billion yen for the fiscal year ending March 31, 2016.    Tokyo-based third-party logistics provider Yusen Logistics reported profits attributable to owners of parent skyrocketed 103.2 percent year-over-year for the nine months ended Dec. 31, 2015 to 3.8 billion yen (U.S. $32.5 million).
   Net sales totaled 359 billion yen for the period between April 1, 2015 and Dec. 31, 2015, a 7.4 percent increase from the corresponding period a year earlier.
   In addition, net income per share for the nine months ended Dec. 31, 2015 was 90.79 yen per share, compared to 44.68 yen per share for the same 2014 period.
   Looking ahead, Yusen anticipates profits attributable to owners of parent of 3.6 billion yen on net sales of 480 billion yen for the full fiscal year ending March 31, 2016. In addition, the third-party logistics provider forecast net income per share of 85.37 yen per share for the full fiscal year.
   Yusen also unveiled changes to its representative directors. Nippon Yusen Kabushiki Kaisha’s Representative Director, Senior Managing Corporate Officer Kenji Mizushima will become Yusen’s President and Representative Director, while the company’s current President and Representative Director, Hiromitsu Kuramoto, will become Chairman of the Board and Representative Director.
   These changes will take effect at the end of June.