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NYK expects worst of coronavirus impact in second quarter

NYK forecasts no recurring profit for the year ahead, with an impact of about ¥50bn to ¥60bn from the pandemic. The car carrier division will see cargo volumes fall rapidly from April, and a year on year decline of about 50% is expected in the first quarter of the 2021 financial year

‘The extent of the coronavirus impact and when it will come to an end are still unclear, but it is expected that April through to June 2020 will be the worst period and the level of economic activities will gradually recover thereafter,’ the group said

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