K-Line Cuts Tariff-Cost Estimate, Raises Impact of Stronger Yen

Kawasaki Kisen Kaisha Ltd. expects the impact of US auto tariffs to be lower than previously feared, though a stronger yen is seen shaving almost ¥10 billion ($68 million) off profit this fiscal year.

The yen appreciation will cost K-Line almost three times as much as the expected hit from US auto tariffs, Chief Financial Officer Yutaka Akutagawa said at a press conference on Monday. That’s based on a revised currency assumption of ¥141.7 per dollar from a prior estimate of ¥152.7.