Major Japanese international freight forwarder Yusen Logistics Co. released a new medium-term management plan that calls for boosting its group operating revenue by 25 percent within the next three years, but its ambitions go even further.
Under the new three-year plan, dubbed “GO FORWARD, Yusen Logistics – Next Challenges,” the company’s group operating revenue is to reach ¥500 billion (US$4.9 billion) in fiscal 2016, compared with an estimated ¥400 billion in fiscal 2013, which ended on March 31.
The company’s group operating profit and pre-tax profit are both to reach ¥12 billion in fiscal 2016, compared with an estimated ¥4.5 billion and ¥4.8 billion, respectively, in fiscal 2013.
The company’s group net profit is to reach ¥4 billion in fiscal 2016, compared with an estimated ¥1.5 billion in fiscal 2013.
Yusen Logistics is the logistics arm of Nippon Yusen Kabushiki Kaisha (NYK Line), Japan’s largest shipping firm by sales. Yusen Logistics is one of the nation’s three largest international freight forwarders, along with Nippon Express Co. and Kintetsu World Express Inc. (KWE).
The Tokyo-based firm’s new medium-term management plan also contains numerical cargo-handling targets — 850,000 20-foot-equivalent units (TEUs) of sea freight and 370,000 tons of air freight in fiscal 2016.
The target figure for sea freight is up 49.1 percent from an estimated 570,000 TEUs in fiscal 2013, while that for air freight is up 19.4 percent from an estimated 310,000 tons in fiscal 2013.
Yusen Logistics also said that it will pursue a long-term target of becoming one of the world’s top five forwarders and Asia’s largest, with group operating revenue of ¥1 trillion and 2 million TEUs of sea freight and 700,000 tons of air freight per annum.
The company did not give a specific deadline for achieving the long-term target.
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