• Kyodo News


Major trading houses Mitsubishi Corp., Sumitomo Corp. and Marubeni Corp. on Friday reported growth in their April-June earnings from the same quarter of last year, when their earnings plunged amid the global recession.

Mitsubishi said its group net profit in the first quarter of fiscal 2010 more than doubled from a year earlier to ¥140.43 billion as sales grew 19.2 percent on hikes in resource prices and a recovery in demand for steel products.

Sumitomo said its group net profit in the quarter shot up 158.4 percent to ¥64.56 billion as sales expanded 7.9 percent to ¥2.02 trillion.

Marubeni said its group net profit posted a 14.2 percent rise to ¥30.64 billion on ¥2.17 trillion in sales, up 28.8 percent.

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