"I couldn't believe that oil would drop this far," said Marubeni Corp. Chief Executive Officer Fumiya Kokubu.
And this from a man who spent more than a decade trading energy and picking oil and gas deals in a 39-year career at the trading house.
His confession of sorts came at a Monday afternoon Tokyo press conference where he announced that getting blindsided by oil was a major factor in wiping out half of Marubeni's ¥220 billion profit forecast for this year.