The shipyard said the net deficit was JPY 2.84bn ($27.92m), compared to a loss of JPY 0.53bn in the previous year.

It had forecast a loss of JPY 2.6bn

Revenue dipped to JPY 30.96bn against JPY 35.94bn the year before.

The current 12-month period looks better for the company, but it is still predicting a deficit of JPY 600m from revenue of JPY 30bn.