Impact of the new Corona on the performance of a major trading company Sumitomo Corporation and Mitsubishi Corporation profit decreased May 8 19:29
The impact of the spread of the new coronavirus spread on the performance of major trading companies, and the year-on-year settlement of accounts for Sumitomo Corporation and Mitsubishi Corporation was a decline in final profit.
Sumitomo Corporation had a final profit of 171.3 billion yen, which was 150 billion yen higher than the previous year, due to the impact of the spread of the new coronavirus infection on the development of shale oil in the United States and the loss in the steel pipe business operating locally. It has decreased near.
With the decline in metal prices, which Mitsubishi Corporation deals with, and the decline in automobile sales, the final profit fell to ¥ 535.3 billion, a little less than ¥ 55 billion.
Regarding the outlook for business results for the current fiscal year, the two companies have decided to "undecide", such as "it is difficult to calculate the impact of the new virus."
Mr. Takehiko Kakiuchi, president of Mitsubishi Corporation, said in a financial statement over the phone, "The effects of the new virus will cause unprecedented damage to the global economy and it is necessary to prepare for a long-term battle for recovery."
On the other hand, ITOCHU secured a net profit of 501.3 billion yen, the same level as the previous fiscal year, due to increased profits in the food sector, although sales related to apparel were sluggish due to the closure of department stores.
However, as we are preparing for a global recession this year, we are forecasting final profit of 400 billion yen, a 20% decrease from the previous year.
Yoshihisa Suzuki, President of ITOCHU Corporation, said at a press conference, "For the time being, it will be the era of" With Corona "where we can live with Corona for the time being. We would like to promote business online and respond to changes in the environment."