The Japanese tanker and bulker owner booked a gain of JPY 5.32bn ($47.7m), a 6.6% year-on-year decline.

This figure beats the company’s latest forecast of JPY 4.8bn.

Revenue went up 4.5% to reach JPY 79.76bn.

NS United has raised its full year projection by 54.4% and now expects a profit of JPY 8.8bn.

However, even if this target is reached, it will still be lower than the previous year’s profit of JPY 10.78bn.