13 October 2005, 09:37  Japanese trading houses may raise full year net profit forecasts

Japan's top five trading companies are expected to raise their projections of net profit for the financial year to March 2006 because of higher prices for oil and other base materials and the weaker yen, the Nihon Keizai Shimbun reported, without citing sources. The Nikkei reported that leading trading house Mitsubishi Corp now expects a net profit of 300 bln yen for the year to March, having previously forecast net profit of 280 bln yen. Mitsui & Co could also upgrade its net profit outlook by 20 bln yen to 190 bln yen, and Sumitomo Corp may boost its forecast to 130 bln yen from 110 bln yen, the newspaper said. Itochu Corp plans to raise its net profit estimate by 10 bln yen to 110 bln yen, while Marubeni Corp, Japan's fifth-largest trading house, sees full-year net profit of 70 bln yen rising, having previously forecast 60 bln yen, the report said.

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