The company said it made JPY 1.98bn ($16.85m) on a net basis in the three quarters to 31 December, down from JPY 2.16bn in the corresponding period of 2013.

Its mixed fleet brought in revenue of JPY 23.08bn, compared to JPY 20.54bn the year before.

Meiji is forecasting earnings of JPY 2.2bn in the 12 months to 31 March, however, against an actual result of JPY 1.41bn