Japan’s ship exports drop more than 30 per cent despite global boom

For example, Japan Marine United achieved a 5.4-fold year-on-year increase in net profit in fiscal year 2024 (March 2024 to March 2025), reaching JPY19.9 billion (US$140 million), a historical high. Its total order volume hit JPY720.2 billion yen (US$5.03 billion), also a record high.

Japanese marine engine manufacturer Mitsui E&S also said its ship propulsion system orders rose 1.4 times year-on-year to JPY212.9 billion yen (US$1.49 billion).

The Japanese Government is meanwhile trying to use the country’s shipbuilding technology as a diplomatic card in tariff negotiations with the United States, and the government has also expressed willingness to provide technical support and ship repair capabilities.