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TOKYO (Jiji Press) — Mitsui & Co. said Tuesday that its consolidated net profit for the year that ended in March rose 23.6% from the previous year to ¥1,130,630 million.
The company became the first Japanese trading house to post an annual net profit of over ¥1 trillion, backed by a surge in crude oil and other commodity prices and a weakening yen that boosted its overseas profits when repatriated.
Outside of the resources business, the company also performed well in commercial vehicle leasing and fertilizer sales.
For the year to March 2024, Mitsui forecast its net profit to fall 22.2% to ¥880 billion due to a decline in commodity prices.
Among other major Japanese traders, Mitsubishi Corp. has projected a net profit of ¥1.15 trillion for the year that ended in March 2023.
