Mitsui's interim settlement final profit decreased by 53% Transaction price fell due to corona effect October 30, 16:22
The half-year interim settlement of accounts for the major trading company "Mitsui & Co." Profit decreased significantly by 53%.
Mitsui & Co. announced on the 30th that the interim results for the six months to September showed that the final profit of the entire group was only 110 billion yen, a decrease of 53% from the same period last year.
Economic activity stagnated due to the impact of the new coronavirus, and transaction prices for coal and crude oil fell. In addition, the asset value of the coal mine business in Mozambique, Africa, was reviewed and losses were recorded. It is a factor.
The earnings forecast for the year ending March next year shows that the global economy is showing a gradual recovery, but there is a possibility that a temporary loss will be recorded in the future, so the final profit will be higher than the previous year. We have left the outlook for a surplus of 180 billion yen, a 54% decrease.
At an online press conference, Vice President Takashi Uchida said, "I am concerned that the conflict between the United States and China will be prolonged regardless of the outcome of the US presidential election. It will have a great impact on the world economy, so we must look carefully at the future." Said.