January 30, 2018 / 6:34 AM / in 9 months

Yamato upgrades profit forecast as higher prices propel earnings recovery

TOKYO, Jan 30 (Reuters) - Yamato Holdings Co Ltd, Japan’s biggest parcel delivery firm, raised its forecast for its annual operating profit to 31 billion yen ($285.14 million) from 25 billion yen previously as higher delivery prices helped it return to profit in the third quarter.

Yamato posted a 21.3 percent rise in third-quarter operating profit to around 45 billion yen, calculations based on the company’s results for the first nine months of the fiscal year showed.

$1 = 108.7200 yen Reporting by Sam Nussey; Editing by Jacqueline Wong

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