KWE also wins in 2021
Japan’s Kintetsu World Express (KWE) has reported its financial results for the first nine months of the fiscal year ending 31 March 2022. While revenues went up by JPY 703.2 billion (USD 6.06 billion), an increase of 65.6% compared to the same period in 2020, operating income amounted to JPY 45.5 billion (USD 390 million).
Kintetsu attributed the improvements mainly to the recoveries of the world’s major economies, alongside the steady growth of the Japanese manufacturing sector and Japanese exports. The air freight sector grew particularly strongly, exports surging by 44.7% year-on-year to 555,000 t, while air cargo imports grew by 20.9% to 1 million shipments.
Sea freight expanded as well, with exports rising by 16.1% to 543,000 teu, while sea freight imports rose 8.9% to 216,000. The group's affiliate APL Logistics achieved a growth in turnover of 32.3% to JPY 142.3 billion (1.23 billion), and operating income rose by 65.3% to JPY 7.1 billion (USD 61 million). (sh)