Latest news with #Sojitz
Nikkei Asia
19-05-2025
- Business
- Nikkei Asia
Japan's Sojitz buys Singapore's high-end Royal Healthcare
TOKYO -- Japan's Sojitz on Monday announced that it had spent an undisclosed sum to buy Royal Healthcare, a Singaporean healthcare services provider that will now become a consolidated subsidiary of the Japanese trading house. By introducing advanced medical services, Sojitz aims to expand its customer base and strengthen its healthcare operations in developed countries, where there is a growing demand for high-quality medical services.
Nikkei Asia
19-05-2025
- Business
- Nikkei Asia
Japan's Sojitz taps AI to support Thailand's struggling farmers
BANGKOK/TOKYO -- Japanese trading group Sojitz recently launched an agricultural app in Thailand that taps artificial intelligence, planning eventually to offer everything from guidance on soil conditions to sales channels for produce. Farming is an important industry in Thailand, but it is barely profitable. The hope is that by using the app, farmers can improve productivity without making large investments.
The Hindu
01-05-2025
- Business
- The Hindu
Sojitz Corporation of Japan forays into India's clean energy sector; to invest $400 mn in 30 biomethane plants
Sojitz, a Japanese trading firm, in collaboration with IOC GPS Renewables Pvt. Ltd. (IGRPL), a joint venture between Bengaluru-based GPS Renewables and Indian Oil Corporation, will develop and operate biomethane production facilities in India using agricultural waste as feedstock. Under the partnership, IGRPL would establish 30 biomethane plants by FY2026-FY2027 with a production capacity of 1,60,000 tonne of biomethane annually, with a total outlay of over $400 million, said a communique. Mainak Chakraborty, CEO and Co-Founder, GPS Renewables, said, 'Sojitz and GPSR group have a shared vision of improving India's energy self-sufficiency. As the country's energy demand continues to rapidly grow, it's crucial for us to prioritise biofuels and find ways to reduce our dependence on fossil fuels.'' The collaboration with Sojitz was a step towards increasing the production of cleaner sources of energy while reducing air pollution caused by the open burning of agricultural waste, he added. Biomethane is produced by purifying biogas and it can be a direct replacement for fossil fuel, significantly reducing greenhouse gas emissions and promoting circular economy. According to the statement, Sojitz consideres India as one of the key strategic markets and it has plans to play an active role in its transition to renewable energy. Green transformation (GX) business is a priority for Sojitz, and to advance this initiative further, a dedicated organization has been set up to drive their GX initiatives. Through this investment, Sojitz and GPSR would work to drive India's clean energy goals by accelerating the expansion of biomethane production and operation across the country. The companies would leverage GPSR's expertise in biomethane production processes, technology expertise, indepth experience in design, construction, operation, and maintenance of biomethane plants. Additionally, IOCL's expansive network with gas consumers would play a crucial role in scaling distribution. Sojitz would also assess possibilities for biomethane production beyond India and explore opportunities in the broader bioenergy sector, the partner companies said.
Nikkei Asia
01-05-2025
- Business
- Nikkei Asia
Japan's Sojitz plans forestry fund for carbon credits with US partner
TOKYO -- Japanese trading house Sojitz will work with a U.S. forestry investment and management company to form a fund that creates carbon credits, aiming to raise around $200 million. Through its wholly owned U.S. subsidiary, Sojitz has established a management body for the fund in collaboration with Ecotrust Forest Management, Japanese leasing company Fuyo General Lease and others.
Mint
01-05-2025
- Business
- Mint
Japanese trading houses conservative on profit forecasts amid US tariffs
By Yuka Obayashi and Katya Golubkova TOKYO, - Japanese trading houses Mitsui & Co, Sumitomo Corp and Sojitz on Thursday issued cautious profit forecasts for the current fiscal year as U.S. tariffs threaten global supply chains and increase economic uncertainty. Japan's top trade negotiator Ryosei Akazawa is in the United States this week trying to negotiate a tariff deal with President Donald Trump's administration. The Bank of Japan on Thursday sharply cut its economic growth forecast for the year ending March 2026 to 0.5% from 1.1% and kept interest rates unchanged, as tariffs weigh on exports. Mitsui, where Warren Buffett's Berkshire Hathaway is a large minority shareholder, said it expects its annual net profit to fall 15% to 770 billion yen , citing a 43 billion yen drop in profits for its machinery and infrastructure businesses, among other items. "We are particularly cautious in the machinery sector, where supply chains span the globe, and in the North American automotive business, where we have adopted a conservative approach to setting margins," Chief Executive Kenichi Hori told a press conference. "Additionally, we've made conservative assumptions for energy and metal prices," he said, but added that tariff-driven supply chain disruptions could also create opportunities for Mitsui, allowing it to leverage its trading functions to support customers in finding alternative sources. Sumitomo, where Berkshire Hathaway is also a large minority shareholder, projected a record high net profit of 570 billion yen for the current year but allocated a 40 billion yen buffer to hedge against the potential fallout from U.S. tariffs. "We face the risk of a global recession unlike anything we have experienced," CEO Shingo Ueno said, pointing to slowing U.S. and Chinese economies, a weak dollar, high interest rates and rising material and labour costs. Sojitz, meanwhile, forecast net profit of 115 billion yen this fiscal year, up 4% from the previous year, after factoring in a 5 billion yen negative impact from the tariffs. "There will be a direct impact on our North American auto sales, and an indirect negative effect on Southeast Asia due to U.S.-China tensions," CEO Kosuke Uemura said. "However, the reshaping of trade flows also presents new opportunities," he added.
