NYK's responses to the changes in Japan's shipping industry left it in an enviable position among its competitors. In 2004 and 2005, the company posted record profits and revenues, as demand for its shipping services increased. NYK expected its good fortunes to continue in the years to come due to its cost cutting efforts as well as its ability to secure lucrative international contracts. In 2004, the company signed a three-year shipping contract with International Paper Company to transport wood chips from Brazil to the United States.