Commodity rout cuts ¥970 billion from Japan's major trading houses

Mar 25, 2016

Commodity rout cuts ¥970 billion from Japan's major trading houses

The nation’s biggest trading companies, stalwarts of the economy, expect to book combined writedowns of at least ¥970 billion ($8.6 billion) as ill-timed investments in commodities ranging from shale gas to copper mines erode profitability. The writedowns for the year ending March underscore the ...

Jan 20, 2016

Mitsubishi bolsters U.S. LNG ties with gas marketer purchase

Mitsubishi Corp. bolstered access to natural gas supplies for its North American export projects by taking full ownership of oil and gas marketer Cima Energy Ltd. Mitsubishi, which already held 34 percent of Cima, took control of the Houston-based company, it said Wednesday, without ...

Dec 29, 2015

Mitsubishi to launch fund to support Tohoku recovery

Giant trading house Mitsubishi Corp. is considering establishing an investment fund for industrial promotion to accelerate reconstruction of the Tohoku region, which was damaged by the March 2011 earthquake and tsunami, it was learned Monday. “We need to help create new industries in Tohoku,” ...

Dec 25, 2015

Lawson, Mitsubishi plan foray into electricity market

Convenience store chain Lawson Inc. and trading house Mitsubishi Corp. said Friday they plan to jump into the electricity market. Lawson and Mitsubishi will accept applications for contracts from February, mainly in the Tokyo metropolitan area, with an aim to starting electricity sales to ...

Sep 22, 2014

Mitsubishi offers to buy Norwegian fishery Cermaq for $1.4 billion

Mitsubishi Corp. proposed to buy Norwegian fishery Cermaq ASA for 8.88 billion kroner ($1.4 billion) to expand its foods business. The offer is 14 percent more than Cermaq’s closing price Friday, the trading house said Monday. Cermaq’s headquarters will remain in Norway, it said. ...

Jul 28, 2014

As U.S. kicks off crude exports, Iran casts a shadow in Asia

The United States faces an awkward rival in its first attempts in 40 years to export crude oil — Iran. Iran, whose economy has been throttled by Western sanctions that have halved its crude shipments, is now selling higher quality and cheaper oil to ...

Jul 8, 2014

Mitsubishi and MHI to acquire stake in UAE water firm

Mitsubishi Corp. and Mitsubishi Heavy Industries have announced they have entered into an agreement with a water firm in the United Arab Emirates to acquire a 38.4 percent share in its water and wastewater projects. The joint statement Monday did not disclose how much ...

Nov 14, 2013

Sinopharm, Mitsubishi form Chinese medical supplier

Sinopharm Group Co., China’s top drug distributor, teamed with Mitsubishi Corp. to form a medical supply distributor to slash the rising cost of health care in Asia’s biggest economy. Sinopharm MC Hospital Services Co., based in Shanghai, will add to the two Beijing-based pharmaceutical ...