The three main Japanese shipping companies i.e. K-Line, MOL and NYK, parent
companies of Ocean Network Express ("ONE") revised up their FY2022 (Apr
2022-Mar 2023) earning guidance after market last Thursday (21 Jul), just 3
months after announcing such guidance in Apr 2022. The main change is to
increase its FY2022 Ordinary Profit by JPY695bn or 38% comparing to its
previous guidance.
As a result, new profit guidance for FY2022 will be flat YoY. Previous guidance
was 29% YoY lower. However,