Japan’s NYK Line has reported a ¥1trn ($7.6bn) profit for financial year 2021, up 624% on the previous year.

Revenues also increased by 41.8%, from ¥1.6trn in financial year 2020, to ¥2.2trn in 2022.

Its Singapore-based joint venture liner subsidiary Ocean Network Express (ONE) was by far the biggest contributor to its profit, adding ¥734bn in recurring profit to NYK’s bottom line.