Kuribayashi falls

Japan’s Kuribayashi Steamship has logged a lower profit in the year to 31 March, despite rising revenue.

The company said net earnings were JPY 746m ($7.32m), against JPY 1.09bn in the previous 12 months.

Revenue increased to JPY 47.26bn, from JPY 43.81bn.

It is forecasting a better year ahead, however, with net profit expected to reach JPY 900m from similar revenue.