Mitsui CEO eyes food, retail amid profit slump

May 20, 2015

Mitsui CEO eyes food, retail amid profit slump

Mitsui & Co., the nation’s top oil trader, is expanding its focus beyond raw materials as its incoming CEO contends with an expected 22 percent decline in profit this year. As much as 80 percent of Mitsui’s profit comes from such areas as iron ...

May 1, 2015

Itochu to boost dividends, expects 10% increase in profit

Itochu Corp., the third-largest trading house in the country by market value, will boost its dividend payout this year as it targets a 10 percent jump in profit. The company forecast net income will rise to ¥330 billion after meeting its profit target of ...

Mar 4, 2015

Itochu selling China Food unit to Asahi group

Itochu Corp. has agreed to sell a Chinese food unit to Asahi Group Holdings Ltd., as the trading house seeks to raise funds ahead of its planned $5 billion investment in Citic Ltd. and to maintain its profit forecasts. Japan’s third-largest trading house will ...

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. ...

Traders gear up for U.S. shale gas

Apr 1, 2013

Traders gear up for U.S. shale gas

Japan’s top trading firms are stepping up preparations to import shale gas from the United States, a move expected to ease skyrocketing procurement costs for liquefied natural gas driven by Tokyo’s verbal bludgeoning of the yen. Lower LNG costs will help curb electricity rates ...