• Kyodo

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Marubeni Corp. on Monday cut its profit outlook for the year through March as the trading house booked losses totaling ¥120 billion due mainly to tumbling commodity prices.

Marubeni now expects a group net profit of ¥60 billion, sharply down from its earlier estimate of ¥180 billion, and an operating profit of ¥120 billion, down from ¥130 billion projected on Feb. 5. The company maintained its sales estimate at ¥12.5 trillion.

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