Giant Japanese trading house Mitsubishi Corp. said Tuesday it posted a record-high consolidated net profit of 95.17 billion yen in the year ended March 31, turning around from a net loss of 5.57 billion yen in the preceding year.
Net profit per share grew 60.73 yen from 3.55 yen in the preceding year.
The earnings results are based on Japanese accounting standards, and are separate from results released May 17 based on U.S. standards, which also showed a record-high group net profit.
In the latest report, Mitsubishi said that group revenue rose 6.9 percent to 14.01637 trillion yen on the back of higher crude oil prices and a recovery in demand for machinery and chemicals.
Group pretax profit increased 25 percent to 147.6 billion yen, while operating profit rose 18.4 percent to 96.17 billion yen, the company said.
The company said it plans to pay an annual dividend of 8 yen per share, unchanged from the pervious year.
For the current year to March 31, 2002, Mitsubishi expects a consolidated net profit of 85 billion yen and group pretax profit of 135 billion yen on revenue of 14.2 trillion yen. The projections are based on Japanese accounting standards.