Japan Trading Firms See Earnings Dragged by Commodity Price Drop [Yahoo! Finance]
MARUBENI CORP UNSP/ADR (MARUY)
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Source: Yahoo! Finance
Most Read from Bloomberg Paris Restricts Through Traffic in City Center From Housing to Immigration, Key Ballot Initiatives and Local Races to Follow Istanbul Tries Free Public Transit to Help Job Seekers Among the five, Mitsui & Co. was the only one to boost its net income guidance for the full year, saying its LNG business will contribute to profits. Mitsubishi Corp., Marubeni Corp. and Sumitomo Corp.'s net income missed the average analyst estimates for the second quarter ended September, according to data compiled by Bloomberg. Itochu Corp., which announced results on Wednesday, also missed analyst estimates for operating income. The four firms retained their fiscal year guidance. The trading houses said profits were affected by China's economic slowdown alongside declining prices of coking coal and iron ore. The five firms, in which Buffett's Berkshire Hathaway Inc. has stakes, have a significant presence in the global commodities space, with investments in upstream
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