Meiji makes it black

Japanese tanker and bulker owner Meiji Shipping has returned to profit over the first nine months of its financial year.

The Tokyo-listed company said it made JPY 100m ($1.1m) on a net basis to 31 December, up from a loss of JPY 112m in the same period of 2011.

Revenue climbed to JPY 16.62bn, against JPY 15.58bn.

The full-year forecast of a JPY 250m profit is worse than the JPY 507m achieved in the previous 12 months, however.