The tanker and bulker owner said net profit was JPY 654m ($5.45m), up from JPY 447m in the previous 12 months.
Revenue edged up to JPY 12.7bn against JPY 12.69m the year before.
But for the current year to 31 March, 2016, it is forecasting earnings of only JPY 600m, with revenue expected to drop to JPY 12.5bn.
Kyoei operates five VLCCs, four products tankers and six bulkers.
