Economic expansion, recovery in first half drove gains

Kintetsu World Express, Japan's second-largest international forwarder, said its net profit surged 103.4 percent in the nine months ending Dec. 31 from a year earlier to $79.6 million.

Tokyo-based KWE's group operating revenue soared 33.1 percent in the April-December period from the same period of the previous fiscal year to $2.4 billion. Group operating profit swelled 56.8 percent to $102.1 million.

Operating revenue in the Americas jumped 30.8 percent in the April-December period from a year earlier to $295.4 million. Operating profit in the Americas skyrocketed 231.5 percent to $18.7 million.

"An economic expansion continued in emerging countries, especially those in Asia, while a moderate economic recovery continued in the United States and Europe amid fears of a slowdown in their economies," KWE said in its earnings release.

On the Japanese economic situation during the same nine-month period, KWE said, "A steady uptick was seen in the first half of the period, buoyed by increased exports, especially to Asia, and the government's domestic demand-boosting measures. But the economy continued to tread water in the second half of the period."