Latest news with #analysts forecasts
Reuters
04-08-2025
- Business
- Reuters
Japan's Mitsubishi Q1 profit down 43%, beats expectations
TOKYO, Aug 4 (Reuters) - Japanese trading house Mitsubishi (8058.T), opens new tab on Monday posted a net profit of 203.1 billion yen ($1.4 billion) in the three months to June 30, down 43% from a year ago but beating analysts' forecasts. An LSEG poll of analysts had expected the company to post 180.3 billion yen in the first-quarter net profit. In the same period of last year, Mitsubishi saw a net profit of 354.4 billion yen. This year, the profit was mainly down due to the absence of gains from asset sales and weaker prices in the Australian steelmaking coal business, the company said. Mitsubishi left its forecast for the fiscal year ending next March unchanged at 700 billion yen. Billionaire investor Warren Buffett's Berkshire Hathaway has taken minority stakes in Japan's top five trading houses, including Mitsubishi. ($1 = 147.6600 yen)
CNA
04-08-2025
- Business
- CNA
Japan's Mitsubishi Q1 profit down 43%, beats expectations
TOKYO :Japanese trading house Mitsubishi on Monday posted a net profit of 203.1 billion yen ($1.4 billion) in the three months to June 30, down 43 per cent from a year ago but beating analysts' forecasts. A LSEG poll of analysts had expected the company to post 180.3 billion yen in the first-quarter net profit. In the same period of last year, Mitsubishi saw a net profit of 354.4 billion yen. The company left its forecast for the fiscal year ending next March unchanged at 700 billion yen. ($1 = 147.6600 yen)
CNA
01-08-2025
- Business
- CNA
Japan's Mitsui Q1 net profit down 31%, beats forecasts
TOKYO :Japanese trading house Mitsui posted on Friday a net profit of 191.65 billion yen ($1.27 billion) for the quarter ended on June 30, down 31 per cent from a year earlier but ahead of analysts' forecasts. An LSEG poll of analysts had expected Mitsui to post a profit of 178.8 billion yen for the first quarter. The company recorded net profit of 276.11 billion yen a year earlier. This year, profit was down on the absence of asset sales and weaker iron ore and metallurgical coal prices, Mitsui said. The company kept its net profit forecast for the fiscal year ending next March unchanged at 770 billion yen. "Looking ahead, there are concerns about deterioration in the global economy due to the expansiveness and high-level of increases to tariffs by the U.S., which would negatively impact the global economy," Mitsui said. The uncertainty surrounding U.S. policy developments may lead to postponed business investments, the company added. ($1 = 150.7300 yen)
