NYK Line has said no decision on fresh cruise sector investment has yet been taken following a report it will order a new vessel.
The Nikkei daily claimed the Japanese owner will contract a ¥60bn ($543m) vessel for delivery in the mid-2020s.
The move would follow the decision last month to sell a 50% stake in its cruise business to domestic vessel manager Anchor Ship Partners (ASP).
NYK said it expects to book a gain of ¥8bn ($73m) for the year ending 31 March from the deal.
The cruise unit was set up in 1989 for the domestic market.
It operates the 50,000-gt Asuka II (built 1990).
The giant shipowner said: "We will invest in the cruise business together with ASP and provide high quality and attractive services while maintaining the traditions of Asuka that we have cultivated so far."
ASP said it wants to help NYK fund the development of the cruise business, which includes investing in a newbuilding.
"In the future, to be recognised as number one in the world cruise business we think it will be necessary to build a new cruiseship,” it added.
In 2015, NYK sold its Crystal Cruises unit to Genting Hong Kong.
