Net profits also nearly doubled to JPY 9.1bn from JPY 4.8bn even though revenues were largely stable at JPY 89.8bn, an increase of only JPY3bn.
Namura is forecasting a full year profit of JPY 18bn, up from JPY 13.6bn a year ago.
Late last year Namura joined forces with Mitsubishi Heavy Industries (MHI), Imabari and Sanoyas to buy a major stake in Brazilian shipbuilder Ecovix-Engevix.
The acquisition strategy is a means for medium-sized Japanese shipyards to diversify and survive competition from South Korea’s mega-yards and China’s low-cost competition.
