Business / Corporate May 9, 2016

Sumitomo Corp. misses profit target, warns of uncertainty

Sumitomo Corp. warned that its business outlook is becoming more uncertain after missing its full-year profit target due to widening impairments on its resources investments. The Tokyo-based trading house said net income in the year through March was ¥74.5 billion, below the ¥100 billion it ...

Mitsui CEO eyes food, retail amid profit slump

Business / Corporate 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 ore, ...

Business / Corporate 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 sell ...