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NXHD Revises 2023 Outlook Amid Weaker Global Cargo Demand

NIPPON EXPRESS HOLDINGS has adjusted its fiscal year 2023 consolidated outlook, citing weaker global cargo demand. Sales forecast was revised down from 2,450 to 2,330 billion yen (-4.9% YoY), with operating profit down from 105 to 84 billion yen (-20%), and final profit down from 72 to 55 billion yen (-23.6%). Core logistics business sales fell 16.4% to 958.062 billion yen due to sluggish international cargo movement, notably in automobiles, semiconductors, and electronics. East Asia sales dropped 37.9%, and South Asia & Oceania sales declined 38.6%, partly attributed to easing supply-demand imbalance in air and ocean freight.


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Top 5 Japan Freight Forwarders in May 2024

The ranking of international air cargo forwarders from Japan for May 2024 has been revealed. The top spot was taken by NX with 17,033 tons (+13.4% y/y), followed by KWE in second place with 10,112 ton

Top 5 Japan Freight Forwarders in March 2024

The March 2024 Japan International Air Cargo Forwarder Ranking has been revealed. The top spot goes to NX with 17,733 tons (-3.6% y/y), followed by Yusen Logistics with 11,016 tons (+18.2%), Kintetsu


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