Nippon Yusen Kaisha (NYK), posted a 44% year-on-year increase in net profit in FY 2014 to ¥47.5 billion (US$395.4 million) drawn on revenues of ¥2.4 trillion, an increase of 7.4 per cent. “The global economy showed solid recovering, supported by strong employment and consumption. While there were some countries in Europe that showed a downside risk, the European economy generally followed is process toward a gentle recovery,” said the NYK statement accompanying the results. “The Japanese economy stagnated following the increased consumption tax. However, it followed a recovering tone in the second half due to factors including improved exports due to lower oil prices and depreciation of the yen. “In the container shipping division, although liftings increased supply pressure was strong due to the completion and delivery or ultra large containerships,” the statement said. “In terms of services we expanded co-operation under the G6 alliance to the transpacific west coast and Atlantic routes, enabling further consolidation,” said NYK.